Bouygues Telecom has announced an exclusive agreement with La Poste to acquire its subsidiary La Poste Telecom, the leading virtual operator on the French market, and to create an exclusive distribution partnership between La Poste, La Banque Postale and La Poste Telecom.

The purchase price for the shares is 950 million euros, which will be adjusted according to the timetable for completion of the transaction. It corresponds to an enterprise value of 963.4 million euros.

The transaction would enable Bouygues Telecom to increase its mobile customer base by around 2.3 million, and to leverage La Poste's distribution network. La Poste Telecom has 400 employees and is expected to generate sales of around 300 million euros in 2023.

Subject to consultation with employee representative bodies, the transaction is expected to be finalized by the end of 2024, subject to obtaining the necessary administrative authorizations and SFR not exercising its right of pre-emption.

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