Numericable reveals details of proposed merger with SFR

19 Mar 2014

French broadband provider Numericable has revealed that it has received commitments from a syndicate of nine international banks to fund the acquisition of domestic cellco SFR, according to a press release. Further, Luxembourg-based investment fund Altice Group, which is the majority owner of Numericable, will retain exclusive control of the new enlarged business entity. Numericable-SFR will also remain listed on the Paris bourse.

Numericable expects that the initial merger will generate growth in all markets, with fixed residential broadband subscribers reaching seven million and mobile users passing 21 million; further, the new enlarged business entity is forecast to serve 20% of the corporate market, and is expected to be the leading alternative wholesale partner for mobile virtual network operators (MVNOs). Numericable also revealed its commitment for continued investment in its networks, pledging to pass twelve million households with fibre by 2017, while 15 million will have access to the network by 2020. Some of the group’s other short-term objectives include: an annual growth figure between 2% and 5%; an EBITDA margin of 40% and CAPEX representing approximately 20% of turnover.

France,Altice Group, SFR, SFR Group,



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