DT sells Siris to LDCom

11 Mar 2003

Deutsche Telekom’s IT services unit T-Systems has signed an agreement to sell its French fixed line network operator Siris to Louis Dreyfuss Communications (LDCom) for EUR25 million. The deal, which is subject to approval by Siris’ employees and the French regulatory authorities, will allow T-Systems to focus on its core business of providing customised IT and telecoms solutions to multinational customers and carriers. The acquisition will add substantially to LDCom’s operations. It has been rolling out infrastructure across France and the rest of continental Europe for a number of years; it boasts a 11,000km strong fibre-optic backbone as well as MANs in 29 cities across the country. The company specialises in business network solutions to corporate and wholesale customers. It has been on something of a spending spree recently, acquiring French service providers Kaptech and Belgacom France early last year.