Natixis Investment Managers is delighted to announce the signing of a strategic agreement between its affiliate Vauban Infrastructure Partners (« Vauban ») - through its digital investment platform Vauban Infra Fibre (« VIF ») - and Bouygues Telecom. This project will finance access to approximately 20 million outlets, including 4 million in medium-density areas and 1 million in less dense areas.

VIF will be the majority shareholder of the newly created company dedicated to the project, SDFAST (“Société de Développement de la Fibre au Service des Territoires”). Its purpose will be to acquire long-term access rights to FTTH lines from Infrastructure Operators. In this way SDFAST will contribute to the co-financing of the deployment of optical fiber in France. The company will provide Bouygues Telecom, as well as third-party operators with all access services to FTTH lines.

This transaction is based on VIF’s significant experience in fiber broadband rollout. It allows Bouygues Telecom and third-party operators, in addition to SDAIF’s offer, to benefit from a full long-term access to all medium and low-density areas with the same business partner, thus providing a complete operational efficiency and service offering. With this transaction, VIF will strengthen its presence in RIP and AMII zones.

This agreement strengthens the collaboration between Bouygues Telecom and Vauban, which was initiated in recent years with the common achievement of two previous projects through:
  • The “CityFast” project, created in 2018, provides coverage of very dense areas over a perimeter of c. 3.4 million premises ; and
  • SDAIF (Société de Développement pour l’Accès à l’Infrastructure Fibre), created in 2020, will cover medium-density areas deployed by Orange, with a perimeter of c.13 million premises and through the acquisition of long-term access rights.
This new operation will accelerate the rollout of FTTH networks in less dense areas and will play a full part in ensuring very dense high-speed access to the greatest number of people, fully integrated to the “Plan France Très Haut Débit” framework.

The transaction is subject to the usual reglementary authorizations.

Gwenola Chambon, CEO and co-founder of Vauban Infrastructure Partners comments: « In the wake of CityFast and SDAIF projects, we are pleased to strengthen our partnership with Bouygues Telecom by developing new common projects. The Vauban IP team can be proud to have paved the way for digital investments in France. Over the past 12 years, we have considerably developed our digital investments and this sector represents one of our pillars of expertise. As a long-term investor, this transaction is fully in line with Vauban’s strategy to capitalize on strong relationships with our historical industrial partners”.

Steve Ledoux, Head of Vauban Infra Fibre adds: « This landmark transaction enables Vauban Infra Fibre to become the first independent broadband platform to offer broadband access throughout France through its various subsidiaries. This national coverage and the success of our partnership with Bouygues Telecom suggest an optimistic outlook for the fibre market in France”.

For Further Reading:
Vauban Infrastructure Partners
Affiliate of Natixis Investment Managers
Société en Commandite par Actions – Limited Partnership by shares
Share capital : €10 076 680.20
Regulated by the Autorité des Marchés Financiers (AMF) under n° GP – 19000044
RCS Paris 833 488 778
115 Rue Montmartre 75002 Paris

Natixis Investment Managers
RCS Paris 453 952 681
Share Capital: €178 251 690
43 avenue Pierre Mendès France
75013 Paris

This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced unless stated otherwise and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.

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