SFR-parent Altice France moved to buy local fixed operator and MVNO Coriolis Telecom for an initial €298 million with an additional deferred payment of €117 million, in a deal slated to close during H1 2022.
Coriolis Telecom’s service targets small- and medium-sized towns in France, and comprises a subscriber base of 500,000 consumers and 30,000 businesses. It also runs four customer contact centres serving its own operations and various third parties.
The MVNO’s website shows its service runs on SFR and Orange networks.
In a statement, Altice noted it entered an exclusive agreement to buy the MVNO, which is “highly complementary” to its existing operations in France.
“Coriolis is a large, fast-growing company with a customer proposition,” Altice France CEO Gregory Rabuel added. “We are eager to combine experience and the significant expertise of the entire Coriolis team to that of Altice France, and to work together to further improve the services provided to our clients and fully realise the excellent growth prospects of Coriolis.”
The deal is subject to regulatory approval.
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