La Poste Mobile is the first French virtual operator, and the fifth telecom operator in France. With more than 2.3 million subscribers, it now makes most of the major players in the sector salivate.
Free, Orange and Bouygues Telecom are eyeing La Poste Mobile
In an article from Echoes dated February 16, 2024, we learn in particular that Orange, Free and Bouygues Telecom have submitted firm offers to buy back the 51% of the virtual operator held by La Poste. As a reminder, the remaining 49% is owned by SFR, which rents its network infrastructure.
According to sources close to the matter, La Poste Mobile is today valued at between 600 and 750 million euros. La Poste’s shares would thus have a value of between 306 and 382.5 million euros.
The sale of its mobile section would allow La Poste to –free up cash in the face of the decline of its traditional profession and the tense macroeconomic context†, explains The Echoes. As for operators interested in the virtual operator, La Poste Mobile is a godsend for easily gaining new subscribers.
It is also an opportunity to integrate a new entity in very good health with an average growth of 8% per year, but also to benefit from a very extensive distribution bucket made up of 7,000 post offices in France.
And SFR in history?
Contacted by The Echoes, SFR has not revealed its intentions for the moment. Thanks to its shares in La Poste Mobile, the operator can exercise a right of approval over the future buyer and a right of pre-emption.
There is also a strong chance that SFR will take advantage of the interest shown by Orange, Free and Bouygues Telecom to resell its shares. A source close to the matter also underlines: “In my opinion, SFR is rather a seller†.
The other difficulty concerns the network sharing agreement. With Orange, Bouygues or Free in its capital, La Poste Mobile could want to borrow their networks, and do without those of SFR.
The takeover file therefore seems to be on the right track, even if the direction chosen by SFR is still unclear. This situation should be resolved before the summer, and new information will likely be communicated in the coming weeks.