14 September 2020

French operator Bouygues Telecom inked an agreement to acquire MVNO Euro-Information Telecom from banking group Credit Mutuel for at least €530m, as part of a broader deal to boost subscriber numbers and its distribution strategy.

The company said the basic acquisition fee would be paid once the deal closes, which it expects to happen this year subject to French Competition Authority approval. It also agreed to pay an additional €140m to €325m over a number of years, subject to achieving “certain business performance criteria”.

Euro-Information Telecom currently serves 2 million subscribers. In addition to bringing those to the Bouygues Telecom stable, CEO Richard Viel said a related distribution agreement with Credit Mutuel would strengthen the operator’s “commercial footprint” by enabling it to sell “through the local bank branches” of the company across France.

Bouygues Telecoms was the fourth-largest operator by connections in Q1 with more than 12 million, GSMA Intelligence data showed.

France currently has four mobile networks: Orange, SFR, Bouygues Telecom and Free.