Altice France has entered into an exclusive agreement to by 100% of the French independent telecom group Coriolis.
Coriolis has been built up over 30 years by the French entrepreneur Pierre Bontemps.
Through its brand Coriolis Telecom, it offers mobile and fixed telecom services to more than 500,000 customers in small and medium French cities and to 30,000 companies. In addition, Coriolis has developed a customer relationship management division, Coriolis Service, serving both internal and third-party customers relying on four contact centres in France and abroad.
With the transaction, Altice France would bring onboard the existing expertise, partnerships, well-established distribution network, B2C and B2B customer bases and customer care capabilities of Coriolis, which are highly complementary to its SFR and Intelcia divisions.
The deal consists of an upfront purchase price of €298 million and a deferred consideration of €117 million. It would be subject to to customary regulatory approvals and is expected to be completed in the first half of 2022.
According to Grégory Rabuel, chairman and CEO of Altice France, said: “Coriolis is a great, fast growing, company with a customer proposition that would be highly complementary to SFR. We look forward to bringing onboard the significant experience and expertise of the entire team of Coriolis to Altice France and working together to further improve our customer proposition and to realize in full the excellent growth prospects of Coriolis. We are very proud to have Pierre Bontemps, founder of Coriolis, who would continue this impressive and entrepreneurial adventure together with us”.
