France Telecom Sells Broadcast Division

France Telecom sells its entire share in the TDF group to a new entity, in which it now holds a 36-percent stake, for €1.6B

December 13, 2002

1 Min Read

PARIS -- France Telecom has closed the transaction announced last July 25 for the sale of TDF to an entity controlled by investment funds Charterhouse Capital Development, CDC IXIS Equity Capital and the Caisse des Dépôts. France Telecom sold its entire share in the TDF group to the new entity, in which it holds a 36-percent stake.The total transaction values TDF at approximately 1.85 billion euros. France Telecom contributed 250 million euros for a 36-percent interest in the new entity. Net proceeds from the sale then amounts to 1.6 billion euros. Prior to the sale TDF took over its cash management, which was previously managed by France Telecom, representing approximately 273 million euros. This results in net cash for France Telecom from the sale of 1.34 billion euros.The ownership structure of the new holding company is as follows:

  • 45 percent for Charterhouse Capital Development and CDC IXIS Equity Capital ;

  • 36 percent for France Telecom ;

  • 19 percent for Caisse des Dépôts.

France Telecom SA

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like