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Latham & Watkins advises Orange on the Creation of Orange Concessions through a Partnership with Long Term Investors

Transaction will create the leading FTTH fibre network operator in rural France, valued at 2.675 billion euros.

Orange has announced the signature of an exclusivity agreement to create the joint venture Orange Concessions, in partnership with a consortium of Caisse des Dépôts, CNP Assurances and EDF Invest as the acquirer of 50% co-controlling equity interest, the remaining 50% being owned by Orange.

With 23 public initiative networks (PIN) representing over 4.5 million built or to-be-built plugs, Orange Concessions will be France’s leading fibre-to-the-home (FTTH) operator of networks rolled out and operated on behalf of local public authorities.

The partnership between Orange, France’s and Europe’s leader in fibre roll-out, and long-term and renowned investors in both infrastructure and local development will enable Orange Concessions to fully seize growth opportunities. This transaction will also allow Orange to support its ambitions in public initiative networks while sharing the required investment.

The transaction will be subject to the prior approval of the relevant competition authorities and is expected to close by the end of 2021.

Latham & Watkins is advising Orange on antitrust matters with a team led by Paris partner Jacques-Philippe Gunther with associates Laure Maes, Amine Mansour and Anne-Claire Théry.