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Bouygues Telecom to Acquire La Poste Telecom

1 Mins read

By Andrea Figueras

Bouygues Telecom, a part of the Bouygues group, has announced the signing of an exclusivity agreement with La Poste group for the acquisition of its subsidiary, La Poste Telecom, at a price of 950 million euros ($1.03 billion).

Key Details:

  • The enterprise value of the acquisition stands at EUR963.4 million, as confirmed by the French construction-and-media conglomerate Bouygues.
  • The agreement encompasses the purchase of 100% of La Poste Telecom’s capital along with an exclusive distribution partnership involving La Poste group, La Banque Postale, and La Poste Telecom.
  • Currently owned by La Poste group (51%) and French telecommunications company SFR (49%), La Poste Telecom is set to bolster Bouygues Telecom’s mobile customer base, consisting of approximately 2.3 million individuals with a notably high level of customer satisfaction.
  • By 2023, La Poste Telecom is projected to generate around EUR300 million in sales and employ 400 individuals, according to Bouygues.

Outlook:

  • The transaction is slated to conclude by the end of 2024, pending regulatory approval and SFR’s decision regarding its pre-emption right.
  • Upon finalization, Bouygues Telecom will provide updated guidance in lieu of its previously set Ambition 2026 outlook from January 2021.

The acquisition of La Poste Telecom stands as a significant move for Bouygues Telecom, marking a strategic advancement in its mobile services sector.

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