PARIS -- France Telecom has signed an agreement with investment funds Charterhouse Capital Development and CDC IXIS Equity Capital and the financial group Caisse des Dépôts under the terms of which an entity controlled by the three parties will acquire the TDF group. France Telecom will divest its entire stake in TDF group to the new entity, in which it will hold a 36-percent stake.The price consideration for the transaction values TDF assets at approximately 1.9 billion euros. France Telecom will invest 250 million euros for its 36-percent interest in the new entity. As a consequence the net proceeds of the transaction for France Telecom will be 1.6 billion euros.The operation will result in the creation of an ad hoc structure registered in France which will acquire and hold TDF. Upon completion of the transaction, the ownership structure of this holding company will be asfollows:- 45 percent for Charterhouse Capital Development and CDC IXIS Equity Capital
- 36 percent for France Telecom
- 19 percent for Caisse des DépôtsThe sale by France Telecom and the investment made by the new shareholders gives TDF access to the financial resources needed to seize growth opportunities created by the advent of digital terrestrial television, outsourcing of wireless telephony infrastructures and the deployment of UMTS, as well as international development opportunities.France Telecom SA