France’s Orange is splitting out and selling half of its interest in a new fiber-optics venture valued at $3.3 billion to goose the rollout of faster speeds across rural areas.
Following a competitive process, Orange said Caisse des Dépôts, CNP Assurances and EDF Invest are buying a 50% stake in the new fiber venture, which is called Orange Concessions. The deal is slated to close by the end of the year. Orange will hold a call option that would allow it to regain control and considerate Orange Concessions in the future.
