BOUYGUES: Bouygues Telecom has signed an exclusivity agreement with Crédit Mutuel encompassing the acquisition of alternativ...
June 26 2020 - 1:51AM
BOUYGUES: Bouygues Telecom has signed an exclusivity agreement with
Crédit Mutuel encompassing the acquisition of alternative telecoms
operator Euro-Information Telecom and a distribution partnership
Press release – Paris, 26/06/2020
Bouygues Telecom has signed an exclusivity agreement with
Crédit Mutuel encompassing the acquisition of alternative telecoms
operator Euro-Information Telecom and a distribution
partnership
Paris (France), 26 June 2020 -
Bouygues Telecom has signed an exclusivity agreement with
Euro-Information, a Crédit Mutuel group company, with a view
to:
- acquiring all the capital of its subsidiary Euro-Information
Telecom (EIT), the market’s leading alternative telecoms
operator;
- and concluding an exclusive distribution partnership between
Crédit Mutuel1, CIC and Bouygues Telecom.
This
deal, which is fully in line with Bouygues Telecom’s growth
strategy, is expected to bolster its customer base by over two
million and expand its distribution network thanks to over 4,200
Crédit Mutuel and CIC bank branches with their 30,000 customer
advisers.
In a telecoms sector undergoing major
technological change, this strategic partnership should help EIT
continue to grow its activity by drawing on values shared by both
partners – quality of service, customer proximity and respect for
employees.
The acquisition price includes a fixed part of
€530 million, to be paid on the closing of the deal, and an
additional part of between €140 and €325 million contingent on the
achievement of certain business performance criteria and payable
over several years.
The deal should be completed by the end of 2020
subject to obtaining the necessary administrative authorisations,
particularly from the French Competition Authority, and following
consultation by employee representative bodies.
Richard Viel, CEO of Bouygues Telecom, said
“Bouygues Telecom is delighted with this deal and partnership
project with Crédit Mutuel, a major French banking group with which
we share the same ethical values and customer focus. We expect this
agreement to boost Bouygues Telecom’s customer base and strengthen
its commercial footprint by being able to sell its offers through
the local bank branches of Crédit Mutuel and CIC, which are spread
widely across France.”
Daniel Baal, CEO of Crédit Mutuel Alliance
Fédérale, and Frantz Rublé, President of Euro-Information (Crédit
Mutuel’s fintech company), said “Crédit Mutuel, CIC and
Euro-information are pleased to be signing this strategic
partnership with Bouygues Telecom. Like Crédit Mutuel,
Bouygues Telecom places innovation and employee dedication at
the heart of its strategy. Thanks to this agreement, the
Crédit Mutuel and CIC networks will continue their expansion
in telephony, providing the best in technology and customer
relations.”
Disclaimer: The acquisition of EIT was considered by
Bouygues SA, before its disclosure, as non-public information
within the meaning of the applicable regulations (Article 7.1 of EU
Regulation 596/2014, 16 April 2014). Responsible for
notification: Arnauld van Eeckhout, General Counsel.
Press contacts: Bouygues Telecom: Caroline Chaix
cchaixcr@bouyguestelecom.fr - +33 (0)6 63 72 88 28 Crédit Mutuel:
Aziz Ridouan aziz.ridouan@creditmutuel.fr - +33 (0)6 01 10 31
69
About Bouygues Telecom
As a full-service electronic communications
operator, Bouygues Telecom stands out by providing its
22 million customers access to the best technology has to
offer on a daily basis. The very high quality of its 4G mobile
network, which now covers 99% of the French population, and of its
fixed and Cloud services provides customers with simple solutions
enabling them to fully enjoy their personal and professional
digital lives wherever they are. Bouygues Telecom’s BtoB
division supports a community of professionals and businesses as
they migrate to very high speed fixed and mobile, and to new ways
of using telecoms such as unified communications and business
mobility solutions. #OnEstFaitPourEtreEnsemble
About Euro-Information, a Crédit Mutuel group company
Euro-Information is the fintech company of the
Crédit Mutuel group. Euro-Information manages the IT systems of
16 federations1 of Crédit Mutuel as well as those of CIC and
of all the financial, insurance, property, consumer credit, private
banking, financing, telephony and technological subsidiaries.
With a headcount of almost 3,600,
Euro-Information offers cutting-edge technology to employees and
banking customers alike, backed up by a high level of security and
personal data protection. Euro-Information has in-house expertise
in all technologies and carries out the developments necessary for
the entities of the Crédit Mutuel1 group.
More information can be found on e-i.com and
creditmutuel.fr
1 Crédit Mutuel Alliance Fédérale (Centre Est
Europe (Strasbourg), Sud-Est (Lyon), Ile-de-France (Paris),
Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse),
Loire-Atlantique et Centre-Ouest (Nantes), Centre (Orléans),
Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen
(Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand) et
Antilles-Guyane (Fort de France)), Crédit Mutuel Nord Europe
(Lille) Crédit Mutuel Maine-Anjou, Basse Normandie (Laval) and
Crédit Mutuel Océan (La Roche-sur-Yon) federations).
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agreement with Crédit Mutuel
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