French construction and telecoms group Bouygues is reportedly in exclusive talks with investment firm Antin Infrastructure Partners to sell it almost 2,300 wireless towers for about €200m (US$251m).
A sale agreement may be announced within weeks,…
French construction and telecoms group Bouygues is reportedly in exclusive talks with investment firm Antin Infrastructure Partners to sell it almost 2,300 wireless towers for about €200m (US$251m).
A sale agreement may be announced within weeks, Bloomberg reported, citing two unidentified people familiar with the matter.
Bouygues Telecom was not immediately available for comment, however a company spokesperson reportedly confirmed to Bloomberg that negotiations with Antin, which is partly owned by French bank BNP Paribas, are taking place. The spokesperson declined to comment on the value or timing of the deal.
The Paris-based group said on 29 August that it planned to sell the towers and some property assets, with Lazard acting as its adviser.
The telecoms division posted disappointing results for the first half of 2012, largely as a result of losing custom to Iliad’s new mobile service ‘Free’.
“Bouygues Telecom is facing deep-seated changes on the mobile market, significantly denting its financial performance,” the parent company said in a 28 August release.
Bouygues noted the telecoms division had implemented a €300m adjustment and savings plan to reduce marketing and operating costs and proposed a voluntary redundancy plan.
