Luxembourg-based telecoms group Altice has entered into exclusive talks with Hiridjee Group, the majority owner of Madagascan telecoms operator Telma, for the sale of its Outremer Telecom operations in the French overseas territories of Reunion and Mayotte. Both units are currently controlled by the group’s ‘Altice International’ arm. The successful completion of the transaction is pursuant to the approval of the French antitrust watchdog, the Autorite de la Concurrence.
As previously reported by TeleGeography’s CommsUpdate, in October 2014 the antitrust regulator granted its conditional approval to Numericable’s proposed acquisition of French telco SFR, on the proviso that overall parent Altice divested its Outremer mobile operations in Reunion and Mayotte, where it already competed with SFR’s local units.
Meanwhile, final bids for the two units were submitted in December 2014, with Telma/Hiridjee going head-to-head with six other bidders for the assets, which were valued at around EUR100 million (USD124.8 million). Other interested parties included the likes of French telco Free (part of the Iliad Group), Jamaica-based, Irish-owned Digicel Group and Group Oceinde, which owns Reunion-based fibre provider Zeop.