Infranity, the global infrastructure business of Generali Investments, has provided €125m of financing to Altitude Group for the acquisition of additional stakes in a French telecoms specialist Rosace Fibre.
The loan will enable Altitude to build its stakes in Rosace Fibre and Losange Fibre, two fibre-to-the-home (FttH) public initiative networks in the Grand Est region of France.
This latest transaction follows earlier share purchases in both companies which enabled Altitude to operate only as an industrial partner and a minority shareholder in these companies.
With the backing of Infranity, Altitude has been able to purchase sufficient stakes to become the majority and controlling shareholder in both Rosace and Losange, whose networks provide fibre to more than 1.4m homes and businesses, with ambitious expansion plans.
Nicolas Oddos, investment executive director at Infranity, said: “As a long-term infrastructure investor convinced of the relevance of FttH networks for the inclusive digital development of all parts of France, we are delighted to further partner with Altitude in their stake strengthening of Rosace Fibre capital through this financing.”
Ilham Djehaïch, managing director at Altitude Infra, said: “Our partnership with Infranity strengthens our investments for the benefit of the territories. Our collaboration with the Grand Est Region is historic, we will continue this on infrastructure but also with the development of digital uses and services to offer residents, businesses and local authorities a smart, connected and sustainable territory.”
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