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Iliad, PE firm InfraVia teaming up for fiber rollout in France

Iliad SA is in exclusive talks with private equity firm InfraVia Capital Partners to form a partnership for the deployment of fiber-to-the-home services outside densely populated areas in France.

The telecom operator created a dedicated entity to acquire, manage and build its fiber networks in the said areas, including lines funded under co-financing agreements. Iliad will sell 51% of the entity to InfraVia based on an enterprise value of about €600 million.

The new entity and Iliad-owned Free will also enter into a long-term service agreement that will give Iliad continued access to the networks. The fiber infrastructure will be opened up to other telecom providers.

The deal is expected to be completed in the fourth quarter of 2019, subject to regulatory approvals and other customary closing conditions.

Iliad said the tie-up is in line with France's national broadband plan, France Plan Très Haut Débit, which aims to connect all French premises to superfast broadband services by 2022.

In March, InfraVia acquired a majority stake in Celeste SAS, a provider of fiber-optic internet and telephony services for businesses.