French operator Bouygues Telecom has sold its 15 percent stake in mast operator FPS Towers to investment fund Antin Infrastructure, increases its stake 100 percent. Although the purchase amount was not announced, a person close to the matter told Les Echos that it achieved a good capital gain compared to its initial valuation of EUR 30 million for 15 percent. Bouygues Telecom sold over 2,000 of its masts to Antin for EUR 205 million in 2012 when it needed cash to fight a price war begun by ISP Free's entry into the mobile market.
Bouygues Telecom said FPS Towers was not a strategic asset, but it kept the 15 percent stake to ensure its sound development and effect on the market. FPS Tower operates 18,000 high points. FPS CEO Ferderic Zimer said that having an operator as shareholders complicates a tower company's relations with other operators, although there was never any discrimination between its different customers. He added, "Our new shareholder structure, shows our neutral position and openness to all operators."
