French businessman Patrick Drahi’s Altice has agreed to acquire Reunion island based-Mobius Group, broadening its assets portfolio in France’s overseas territories.
Luxembourg-based Altice did not disclose the financial details of the purchase, to…
French businessman Patrick Drahi’s Altice has agreed to acquire Reunion island based-Mobius Group, broadening its assets portfolio in France’s overseas territories.
Luxembourg-based Altice did not disclose the financial details of the purchase, to be made via subsidiary Altice Blue Two (ABT), but stated it forms part of its strategy to help consolidate the French territories’ telecoms sector.
The investment firm is confident it can generate synergies, which will enable it to become a leader in the region.
Altice is already present in the region following its acquisition in July of a 67% stake in Outremer Telecom, which operates in Mayotte and Reunion as well as French territories across the Caribbean.
Mobius Group CEO Yann de Prince will take on the role of CEO of ABT’s operations in the Indian Ocean. Commenting on the deal, Prince said: “We are very happy to become a part of Altice, a move that we believe will afford us additional development opportunities in the Indian Ocean region. We expect that the synergies at the core of this deal will allow us to penetrate new markets”.
Mobius, which claims to have a turnover of €18.3m, provides internet access to professional clients under the ‘Mobius Technology’ brand, and double and triple-play offers to private clients under the ‘Izi’ brand.
Besides Outremer, Altice has closed another deal this year: the purchase of 100% of Portuguese telco Oni. Altice is also looking to increase its stake in French cableco Numericable to 30% through a planned listing.
Altice’s cable, mobile, DSL and data centre assets also span Israel, Belgium, Luxembourg and Switzerland.
