Caisse des Depots-backed La Banque des Territoires, CNP Assurances and EDF Invest completed the acquisition of a 50% stake in Orange Concessions from Orange for $1.3bn.

A consortium of investors including Caisse des Depots-backed La Banque des Territoires, CNP Assurances and EDF Invest, completed the acquisition of a 50% stake in Orange Concessions, a provider of fibre network solutions, from Orange, a telecommunication company, for $1.3bn. “I am delighted that Orange, Europe’s leader in fibre roll-out, is now set to establish this partnership in its domestic market with recognized investors who share our vision of digital communication infrastructure development. Through this partnership, Orange holds the means to pursue the development of fibre in rural areas, by winning new public initiative networks or by participating in market consolidation. This is a key milestone in the delivery of our Engage 2025 strategic plan," Stéphane Richard, Orange Chairman & CEO.