A core fund managed by Arjun Infrastructure Partners has invested in French fibre infrastructure operator and developer Altitude Infra.

Pan-European infrastructure investment manager Arjun said its Infrastructure Alliance Europe 2 fund has acquired a minority stake in Altitude Infra.

According to sources, Arjun will hold a 24% stake in Altitude Infra as it joins London-listed infrastructure fund HICL Infrastructure, which last month announced it was acquiring 15.1% of Altitude Infra.

Altitude Infra owns over 150,000km of fibre network with a footprint across 27 areas in France. The  French fibre-to-the-home operator provides a full range of services to the four national internet providers: Orange, Free, SFR and Bouygues Telecom.

Romain Py, a partner at Arjun Infrastructure, said: “Fibre is the fastest, least energy-consuming, safest telecom technology from a cybersecurity standpoint and is the only technology to offer bandwidth to the new, rapidly growing technologies such as 5G and edge computing.

“This, coupled with France continuing to demonstrate positive macro-economic fundamentals as well as a growing and attractive telecoms market that is backed by strong government support, makes this a particularly exciting investment.”

Altitude Infra is at the centre of this industry and is perfectly positioned to achieve its growth ambitions and benefit from market consolidation, Py added.

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