Canadian pension fund PSP Investments and its partners have agreed to buy the French operations of telecoms masts group TDF in a deal worth about EUR3.5 billion ($4.40 billion), according to an exclusive report from Reuters.
The deal is expected to be signed any moment, according to the news agency. The transaction will help TDF’s owners – private equity funds TPG, Charterhouse, Ardian and state bank Bpifrance – to repay almost all of the group’s 3.8 billion debt, the sources said.
“There is some light at the end of the tunnel, but I want to be cautious”, one of the sources said, referring to TDF’s owners laborious efforts to sell the business for more than a year.
The planned acquisition only involves the French operations of TDF, and not other subsidiaries such as Media Broadcast in Germany.
The video below shows the TDF transmitters for the DTT service on the Eiffel tower in Paris.