Neuf Cegetel Closes Erenis Buy
Erenis selling shareholders include Iris Capital, Crédit Agricole Private Equity, AGF Private Equity, Caisse des Dépôts et Consignations and Net Partners, the later having financed and supported the company since its inception.
Erenis, active since 2003, will be Neuf Cegetel’s platform for its fibre optic deployment on the residential market in Paris and the Paris region. Neuf Cegetel, already established as a leading broadband networks and services provider, will benefit from Erenis’ skills in the negotiation with property owners, the deployment of infrastructure inside buildings and the marketing and operation of very high speed services to residential customers. These combined forces will enable Neuf Cegetel to rapidly reach 100 000 home passed in Paris, supporting the group’s objective to increase its broadband market share in the city, and to offer an FTTx offer for 29.90 euros per month starting in April.
When releasing its 2006 annual results, Neuf Cegetel had announced its intention to invest 300 million euros in FTTx over 2007-2008-2009, to connect 1 million homes and 250,000 customers. Furthermore, discussions are ongoing with SFR, which may add to this investment to allow for an even more rapid and ambitious deployment.
About the acquisition of Erenis, Jacques Veyrat, Chairman and CEO of Neuf Cegetel, said: "Erenis, thanks to visionary founding shareholders and a strong management team, has become the leader in FTTx in Paris. Neuf Cegetel will leverage upon Erenis strong momentum to launch its FTTx offer in April and increase its broadband market share in Paris."
Neuf Cegetel Group (Euronext: NEUF)