French transmitter company TDF has completed the acquisition of its competitor Itas for an undisclosed amount.
This acquisition is adding around 400 additional broadcasting sites, the company said in a statement. The news of the acquisition was first announced in July.
“Itas provides the TDF group with aa solid infrastructure, a leading regional network and industrial expertise essential for the consolidation of our activities,” said CEO, Olivier Huart in the statement.
Established in 2008, Itas had raised EUR250 million in order to compete with TDF, building its own network and acquiring in late 2014 the broadcasting subsidiary of TF1 OneCast.
The TDF Group is the main operator of radio and digital TV transmitters in France. Ten years after the opening of the market to competition, competitors occupy a market share of about 35%. When it was bought by four foreign funds in March 2015, TDF was valued at EUR3.6 billion. The company is now owned byBrookfield Infrastructure Group, Public Sector Pension Investment Board (PSP Investments), APG Asset Management N.V. and Arcus Infrastructure Partners.