La Poste and Bouygues to forge a strong, long-term strategic partnership
La Poste has decided to enter into exclusive negotiations with Bouygues Telecom with a view to selling La Poste Telecom, the virtual operator on the French market under the La Poste Mobile brand, as part of a new phase in the company’s development.
Back in 2010, La Poste identified the potential for developing mobile and fixed-line telecommunications in its network of contact points, and on the strength of that conviction, it created a new MVNO, La Poste Telecom, in partnership with SFR.
Twelve years on, thanks to the commitment and professionalism of postal workers, the success of this venture is there for all to see, with 2,300,000 customers by 1st January 2024.
La Poste and Bouygues plan to forge a strong, long-term strategic partnership that will draw on the complementary strengths of the two groups and focus notably on:
– Bouygues Telecom’s acquisition of 100% of the capital of La Poste Telecom, 51% of which was held by the La Poste group and 49% by SFR;
– The conclusion of an exclusive distribution partnership in the postal network;
– A licensing agreement to consolidate the La Poste Mobile brand, which would remain the property of La Poste.
For La Poste, this partnership project would enable it to reap the rewards of La Poste Mobile’s success while continuing to market the brand within the postal network, a key factor in its success.
The value of La Poste Telecom’s shares in the transaction is €950m and its enterprise value is €963.4m.
This project will be proposed to La Poste Telecom’s employee representative bodies, then to La Poste group’s governance bodies, and will be subject to the right of pre-emption of SFR and of the competent authorities.
