SFR-parent Altice France won regulatory approval for a proposed acquisition of local fixed operator and MVNO Coriolis Telecom for an initial €298 million with an additional deferred payment of €117 million.
France’s competition authority Autorite de la Concurrence stated it had authorised the deal without imposing any conditions as it does not believe the transaction will harm competition.
Altice France announced it was in exclusive talks to buy the MVNO in September 2021. It notified the competition authority of the matter in March 2022.
When it originally announced the move, Altice noted Coriolis Telecom’s service targets small- and medium-size towns in France, and comprises a subscriber base of 500,000 consumers and 30,000 businesses.
The MVNO also runs four customer contact centres serving its own operations and various third parties.