Press release – Paris, 26/06/2020

Bouygues Telecom has signed an exclusivity agreement with Crédit Mutuel encompassing the acquisition of alternative telecoms operator Euro-Information Telecom and a distribution partnership

Paris (France), 26 June 2020 - Bouygues Telecom has signed an exclusivity agreement with Euro-Information, a Crédit Mutuel group company, with a view to:

  • acquiring all the capital of its subsidiary Euro-Information Telecom (EIT), the market’s leading alternative telecoms operator;
  • and concluding an exclusive distribution partnership between Crédit Mutuel1, CIC and Bouygues Telecom.

              
This deal, which is fully in line with Bouygues Telecom’s growth strategy, is expected to bolster its customer base by over two million and expand its distribution network thanks to over 4,200 Crédit Mutuel and CIC bank branches with their 30,000 customer advisers.

In a telecoms sector undergoing major technological change, this strategic partnership should help EIT continue to grow its activity by drawing on values shared by both partners – quality of service, customer proximity and respect for employees.

The acquisition price includes a fixed part of €530 million, to be paid on the closing of the deal, and an additional part of between €140 and €325 million contingent on the achievement of certain business performance criteria and payable over several years.

The deal should be completed by the end of 2020 subject to obtaining the necessary administrative authorisations, particularly from the French Competition Authority, and following consultation by employee representative bodies.

Richard Viel, CEO of Bouygues Telecom, said “Bouygues Telecom is delighted with this deal and partnership project with Crédit Mutuel, a major French banking group with which we share the same ethical values and customer focus. We expect this agreement to boost Bouygues Telecom’s customer base and strengthen its commercial footprint by being able to sell its offers through the local bank branches of Crédit Mutuel and CIC, which are spread widely across France.”

Daniel Baal, CEO of Crédit Mutuel Alliance Fédérale, and Frantz Rublé, President of Euro-Information (Crédit Mutuel’s fintech company), said “Crédit Mutuel, CIC and Euro-information are pleased to be signing this strategic partnership with Bouygues Telecom. Like Crédit Mutuel, Bouygues Telecom places innovation and employee dedication at the heart of its strategy. Thanks to this agreement, the Crédit Mutuel and CIC networks will continue their expansion in telephony, providing the best in technology and customer relations.”

Disclaimer:
The acquisition of EIT was considered by Bouygues SA, before its disclosure, as non-public information within the meaning of the applicable regulations (Article 7.1 of EU Regulation 596/2014, 16 April 2014). Responsible for notification: Arnauld van Eeckhout, General Counsel. 

Press contacts:
 Bouygues Telecom: Caroline Chaix cchaixcr@bouyguestelecom.fr - +33 (0)6 63 72 88 28
Crédit Mutuel: Aziz Ridouan aziz.ridouan@creditmutuel.fr - +33 (0)6 01 10 31 69

About Bouygues Telecom

As a full-service electronic communications operator, Bouygues Telecom stands out by providing its 22 million customers access to the best technology has to offer on a daily basis. The very high quality of its 4G mobile network, which now covers 99% of the French population, and of its fixed and Cloud services provides customers with simple solutions enabling them to fully enjoy their personal and professional digital lives wherever they are. Bouygues Telecom’s BtoB division supports a community of professionals and businesses as they migrate to very high speed fixed and mobile, and to new ways of using telecoms such as unified communications and business mobility solutions.
#OnEstFaitPourEtreEnsemble

About Euro-Information, a Crédit Mutuel group company

Euro-Information is the fintech company of the Crédit Mutuel group. Euro-Information manages the IT systems of 16 federations1 of Crédit Mutuel as well as those of CIC and of all the financial, insurance, property, consumer credit, private banking, financing, telephony and technological subsidiaries.

With a headcount of almost 3,600, Euro-Information offers cutting-edge technology to employees and banking customers alike, backed up by a high level of security and personal data protection. Euro-Information has in-house expertise in all technologies and carries out the developments necessary for the entities of the Crédit Mutuel1 group.

More information can be found on e-i.com and creditmutuel.fr


1Crédit Mutuel Alliance Fédérale (Centre Est Europe (Strasbourg), Sud-Est (Lyon), Ile-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique et Centre-Ouest (Nantes), Centre (Orléans), Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand) et Antilles-Guyane (Fort de France)), Crédit Mutuel Nord Europe (Lille) Crédit Mutuel Maine-Anjou, Basse Normandie (Laval) and Crédit Mutuel Océan (La Roche-sur-Yon) federations).



 

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