This press release is published jointly with La Banque des Territoires and EDF Invest.
Banque des Territoires (Caisse des Dépôts), CNP Assurances and EDF Invest have entered into an exclusivity agreement with Orange to acquire a 50% equity interest in Orange Concessions, a company established by Orange to consolidate its fiber investments in 23 public initiative networks (PIN) in France, with a perimeter of more than 4.5 million households.
Optical fiber in France is experiencing strong growth, driven by the evolution of customer behaviours leading to an increased demand for network speed. The French National Superfast Broadband Plan (“Plan France Très Haut Débit”) launched by public authorities in France sets clear and ambitious objectives in this respect regarding the deployment of an essential infrastructure across the country and in particular in low density areas. With Orange Concessions, the three investors welcome the opportunity to invest in essential infrastructure projects in regions alongside Orange, one of the European telecommunications leaders with proven technical and commercial expertise.
As long-term investors, Banque des Territoires, CNP Assurances and EDF Invest will, alongside Orange and local authorities, support Orange Concessions in its mission to deploy and operate the various networks, which should represent a differentiating factor of attractiveness and competitiveness for these regions. Orange Concessions, thanks to its ownership and sound financial structure, will have all the resources required to achieve its objectives.
Olivier Sichel, Director of Banque des Territoires and Deputy CEO of Caisse des Dépôts, commented: “Over the last two years, Banque des Territoires has been continuously fighting against the territorial divide. The digital divide is the first territorial divide: today, either households, companies and public services are connected to ultra-fast broadband, either they are not, and this is not acceptable. With this investment, Banque des Territoires is fulfilling its ambition to make territories more connected, all territories, rural or suburban areas, mountain or coastal areas, to support local authorities.”
Antoine Lissowski, Chief Executive Officer of CNP Assurances, declared: “As a key player in the French personal insurance market and a major investor in French infrastructure, CNP Assurances is pleased to take part in the creation and development of Orange Concessions. We intend to participate actively, in partnership with Orange and local authorities, in the digital transition of our regions in particular through the deployment of optical fiber in rural areas. This development is fully in line with the responsible and long-term investment strategy of CNP Assurances.”
Xavier Girre, Group Senior Executive Vice-President, Group Finance of EDF Group, stated: “This investment in a sizeable digital infrastructure represents an excellent diversification opportunity for EDF Invest’s portfolio and falls within the mission of the Group’s Dedicated Assets. Furthermore, we are delighted to partner with Orange, a major European player in fiber, alongside Caisse des Dépôts and CNP Assurances.”
The completion of this transaction is subject to customary consultations and authorisations, and in particular approval from relevant competition authorities.