Orange Sells Half of $3 Billion Fiber Unit to Fund Rural Rollout
- French company carves out, sells 50% of Orange Concessions
- Deal is latest in series by carriers seeking to share costs
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French telecommunications giant Orange SA is carving out and selling half its interest in a fiber-optics operator valued at 2.7 billion euros ($3.3 billion), the latest in a series of deals by carriers to share the cost of deploying the technology to rural regions.
Caisse des Dépôts, CNP Assurances and EDF Invest will acquire a 50% holding in the fiber-optic unit Orange Concessions, according to a statement. Orange will hold a call option that will allow it to regain control and consolidate the unit in the future.