The possibility of a floatation of French telecoms tower company TDF has resurfaced with an investor saying that it was one of the options currently explored, according to media reports.
Jean-Yves Gilet, director-general of sovereign fund FSI, which…
The possibility of a floatation of French telecoms tower company TDF has resurfaced with an investor saying that it was one of the options currently explored, according to media reports.
Jean-Yves Gilet, director-general of sovereign fund FSI, which holds 24% of the tower company, was quoted by Reuters saying that an IPO was among the options being discussed with banks to cut the company’s debt.
TDF’s owners are reportedly valuing the company at up to E8.5bn.
A source told Telecom Finance that before an IPO could be envisaged the company needed to reduce the amount of its debt, which is reportedly E4.2bn.
TPG holds 42% of TDF, while AXA Private Equity holds 18% and Charterhouse Capital Partners 14%.
TDF was not immediately available for comments.
