Iliad’s 1H revenues up on subscriber gains

4 Aug 2008

French broadband ISP Iliad (Free) said first-half revenues climbed 20.6% year-on-year to EUR692.2 million (USD1.1 billion) from EUR574.1 million a year earlier, on the back of continued strong subscriber take-up. The company added 93,000 net new ADSL subscribers in the second quarter to lift its broadband base to 3.13 million by the end of June 2008. Iliad’s targets include securing 3.25 million broadband subscribers by the end of 2008 and four million in 2010.

Iliad says it has EUR1.2 billion at its disposal to purchase rival broadband provider Alice France, owned by Italy’s Telecom Italia. The acquisition is expected to cost Iliad around EUR800 million, but the company has reportedly secured syndicated credit for more than a billion euros with twelve financial institutions ‘to refinance and increase the existing credit line’.

France, Free