Posted on Jan 23, 2021 at 7:00 amUpdated Jan 24, 2021, 1:02 PM
Orange takes the plunge. After its competitors Altice, Bouygues Telecom and Free, it is the incumbent’s turn to bring investors into the capital of its “FiberCo” (an ad hoc subsidiary hosting some of its fiber networks). The creation of this structure, called “Orange Concessions”, was announced a year ago, on the occasion of the presentation of the operator’s strategic plan “Engage 2025”.
During the group’s board of directors on Friday evening, Orange validated the entry into the capital of a consortium led by the Caisse des Dépôts et Consignations, with CNP Assurances and EDF Invest, which takes a 50% stake in the subsidiary, valued at 2.675 billion euros at the time of the transaction. Each will thus hold joint control, even if Orange has made an option for future consolidation.