Luxembourg-based Altice Group has reportedly sealed a takeover deal for Reunion-based broadband provider Mobius/Izi. According to an unconfirmed report by Clickanoo.re, Altice Group will retain the services of the company’s former owner Yann de Prince, who will lead the company’s operations in Reunion and also Mayotte, where the company currently lacks a commercial presence. According to its website, Izi claimed 23,000 residential triple-play subscribers at end-September 2013, while Mobius claimed 2,000 corporate customers. It remains unclear as to whether Altice will seek to merge Mobius/Izi with its existing Reunion operation, Outremer Telecom.
As previously reported by TeleGeography’s CommsUpdate, last month de Prince rejected reports suggesting that he had hired Rothschild Group to find a buyer for the company; he was said to be frustrated that the company’s attempts to secure a mobile operating licence in Reunion had fallen on deaf ears.
TeleGeography notes that the development coincides with a flurry of M&A activity from Altice Group. The telecoms investment group, which was founded by Frenchman Patrick Drahi, specialises in the acquisition of cablecos. This year it has completed tie-ups for Oni Communications (Portugal, EUR83 million [USD113 million]) and Outremer Telecom (Martinique, Guadeloupe, French Guiana, Reunion and Mayotte). In February 2012 the company acquired Portugal’s Cabovisao for EUR45 million, and also counts subsidiaries in Luxembourg and Belgium (both Numericable), Israel (HOT Telecommunications Systems) and Guadeloupe and Martinique (Le Cable). Last month Altice was linked with a deal for BruTele in Belgium.