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TDF To Sell Fibre Network For EUR ~1bn

COMMUNICATIONS
  • Le Monde reports that TDF finalizing is finalising the sale of its fiber networks to DIF Capital Partners for EUR ~1bn, a price which allegedly dampened the interest of other bidders such as Orange.
  • Les Echos had reported back in September on a sale of the network at up to EUR 1.5bn with interest from Orange.
  • Sale driven is reportedly driven by shareholder pressure last year from Brookfield, PSP, APG, Arcus, Predica in the wake of the failed 2022 capital sale attempt.
  • For context on the size of the deal, TDF Group reported FY23 revenue of EUR 850mn of which the fibre business contributed just EUR 71mn.
  • TDF EUR spreads flat so far.
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