Banque des Territoires will take a 30% equity stake in TDF venture subsidiary Val de Loire Fibre, a digital infrastructure operator, with a view to supporting ultra high-speed broadband roll-out in low-density areas of French counties Indre-et-Loire and Loir-et-Cher. Val de Loire Fibre was founded in January 2018 to roll out, operate and market optical fiber in the Loire Valley area under a public service transfer mandate.
This latest deal shores up TDF’s and Banque des Territoires’ alliance that is spearheaded by Belvédère, a joint venture tasked with bringing mobile coverage to black spots in France. In February 2018, this alliance was further bolstered by Banque des Territoires taking a minority stake in Val d’Oise Fibre.
TDF, regional broadband coverage partner of choice
In December 2017 following a competitive tender lasting several months, the Loire Valley Joint County Syndicate awarded TDF a contract to manage the Public Initiative Network of French counties Indre-et-Loire and Loir-et-Cher. Over a five-year period, the contract scope covers the entire Public Initiative area representing 300,000-plus plugs designed to bring ultra high-speed broadband to local residents and businesses in both counties.
In addition to the Loire Valley’s Public Initiative Network, TDF has won the Call for Investment Commitment contract of French county Les Yvelines involving 110,000 plugs and public service transfer contracts of French counties Val d’Oise involving 85 000 plugs and Maine-et-Loire involving 220,000 plugs. These contract wins bolster the Company’s fiber market share thereby confirming it has adopted the right strategy striving to bring ultra high-speed broadband to low- density areas.
Banque des Territoires’ high-speed broadband investments include 52 public initiative networks
With a view to providing all rural and low-density areas with ultra high-speed broadband, Banque des Territoires takes all steps at its disposal including investing as minority shareholder in infrastructure and digital services ventures. Teaming up with public sector organizations and corporations, the bank contributes to regional development benefiting both local residents and business. By investing in Val de Loire Fibre, the bank will enable th development of 52 Public Initiative Networks to go ahead.
Olivier Huart, TDF Group CEO, said: “In an environment where the government is stepping up efforts to bring broadband to the regions, I am delighted that TDF, a longstanding digital infrastructure operator, is ramping up relations with Banque des Territoires, which supports local municipality investment projects. We can give them an end-to-end service providing top-class operational performance, a widespread local presence and long-term support. Some €490 million including government subsidies will be invested in the Loire Valley fiber project so as to bring ultra high-speed broadband to all Loire Valley homes by 2022.”
Olivier Sichel, Managing Director of Banque des Territoires, said: “Everywhere including rural and large metropolitan areas need to get ultra high-speed broadband. This is really a big national economic and regional development issue and that is why we invested in Val de Loire Fibre. Our strengthened alliance with TDF once again testifies to our support for public initiative networks; we are convinced that an impartial and open infrastructure operator has a key role to play.”