Bouygues Telecom is selling of 2,166 of its cell site towers to France Pylons Services (FPS), a new company formed to hold and manage the towers. Bouygues Telecom said it is taking this action to lower its debts.
The deal is valued at for EUR 205 million and Bouygues Telecom will retain a 15% equity stake in FPS. Therefore, the net proceeds to Bouygues Telecom this transaction is approximately EUR 185 million.
Ownserhip of the first 1,873 towers was completed today and the remaining towers will be sold in Q2 2013.
Bouygues Telecom currently serves 11 million mobile customers (including Simyo and Darty Telecom) and 1.8 million fixed broadband customers (including Darty Telecom), as well as more than 1.5 million business customers.
