French fibre infrastructure company SFR FTTH, owned by Altice Europe and a group of investment firms, now holds 100 percent of Covage after the acquisition was approved by European Union regulators at the end of November. The green light was given with a number of conditions over concerns that the deal could lead to reduced competition in the B2B market segment of FTTO-based access services. As a result, SFR FTTH has agreed to find a buyer for Covage's fibre loop business assets across 30 different local projects, including 25 of the company’s regional subsidiaries.
The disposals could bring in approximately EUR 400 million, according to information gathered by Les Echos from two unnamed sources. This would represent 40 percent of the value of Covage, based on the EUR 1.0 billion acquisition price agreed by SFR FTTH last year.
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