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Bouygues Telecom Sells Towers to Infrastructure Group

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France's Bouygues Telecom has announced a deal to sell and lease back 2,166 of its telecom towers in France to Antin Infrastructure Partners. The deal is worth EUR205 million (USD266 million).

Antin is also setting up a new company to manage the towers, France Pyl˘nes Services (FPS) and Bouygues Telecom will take a 15% minority stake in the new holding company.

Located throughout France, FPS will provide hosting services to Bouygues Telecom and other operators. As part of this transaction, Bouygues Telecom and FPS have entered into a long-term master hosting and service agreement.

Factoring in its stake in FPS, Bouygues Telecom expects net cash proceeds of close to EUR185 million that will be used to continue to invest in its networks and to improve its net debt position.

First closing on 1,873 towers was today and the final closing will be completed in the second quarter of 2013.

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Tags: bouygues telecom  France