Luxembourg-based Altice Group has completed the sale of its Outremer Telecom mobile operations in the French overseas territories of Reunion and Mayotte to Hiridjee Group, the majority owner of Madagascan telecoms operator Telma, Next Inpact reports. The purchase agreement was signed on 23 June 2015.
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. 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 Digicel Group and Group Oceinde, which owns Reunion-based fibre provider Zeop.
In separate news, Altice has disclosed that it has acquired an additional 1.28 million shares in French telecoms company Numericable-SFR for EUR64.6 million, equivalent to 0.3% of the company’s share capital. As of June 2015 Altice France held, directly and indirectly, approximately 70.4% of the share capital and voting rights of Numericable-SFR (78% excluding treasury shares held by Numericable-SFR).