French operator Bouygues Telecom has agreed to sell 2,166 mobile towers to Antin Infrastructure Partners for €205m (US$266m).
Paris-based Antin, an investment partner of BNP Paribas, acquired 1,873 of the towers today and is set to acquire the…
French operator Bouygues Telecom has agreed to sell 2,166 mobile towers to Antin Infrastructure Partners for €205m (US$266m).
Paris-based Antin, an investment partner of BNP Paribas, acquired 1,873 of the towers today and is set to acquire the remainder in the second quarter of 2013, Bouygues said in a statement.
The French telco will retain a 15% stake in France Pylon Services (FPS), the business formed to hold and manage the towers and lease them to Bouygues and other operators.
Bouygues said it will raise about €185m (US$239.9m) from the deal, which it plans to invest in its operations and use to reduce net debt.
Founded in 1994, Bouygues has about 11 million mobile customers and 1.8 million fixed broadband customers.
Dutch telco KPN recently completed similar deals, selling towers in the Netherlands to Indonesian towerco Protelindo for €75m (US$97m) in October and 2,000 towers belonging to German unit E-Plus to American Tower for €393m (US$501m) in mid-November.
