Bouygues Telecom has signed an exclusivity agreement with the La Poste group to acquire its subsidiary La Poste Telecom, a virtual operator on the French market. The MNO will enter into an exclusive distribution partnership involving the La Poste group, La Banque Postale and La Poste Telecom. The purchase price of the shares is $1 billion.
The deal is intended to strengthen its base of approximately 2.3 million mobile customers, with a high level of customer satisfaction. It would also enable Bouygues Telecom to rely on La Poste’s distribution network, which benefits from a strong brand that is recognized nationwide.
The transaction, which is subject to the consultation process of employee representative bodies, is expected to close by the end of 2024.
“Bouygues Telecom is pleased with this project for a strong strategic partnership with the La Poste group. This long-term agreement, which is beneficial to both parties, is based on a vision and values shared by our groups, which are based on proximity, trust and respect,” said Edward Bouygues, Chairman of Bouygues Telecom.
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