Orange to Launch European Tower Company By End of Year
February 18 2021 - 3:22AM
Dow Jones News
By Mauro Orru
Orange said Thursday that it would establish a European tower
company by the end of 2021 in a bid to capitalize on passive mobile
infrastructure across the continent.
The French telecommunication giant said the new company, Totem,
will be run by an independent management team to be appointed in
the first half of 2021, with operations starting by the end of the
year.
Orange plans to retain control of Totem, which will have an
initial portfolio of premium towers of around 25,500 sites in
France and Spain, exploring potential deals to integrate other
passive mobile infrastructure assets from Orange's footprint in the
continent.
"Passive mobile infrastructure is a core asset for Orange,
benefiting from exceptional operational expertise in the areas of
deployment, hosting and maintenance. We are determined to keep
these strategic assets within the scope of the group," Orange Chief
Executive Stephane Richard said.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
February 18, 2021 03:07 ET (08:07 GMT)
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