Altitude Infrastructure Raises $5.90 Million for French Fiber Investment

  • Altitude Infrastructure

PARIS — As the French government gathers forces to maintain a strong corporate momentum despite the Covid-19 pandemic, it has become essential for corporations to have access to best-in-class fiber networks. In this context, Altitude, the 5th largest French telecom operator and first independent fiber player in the country, has announced that it has raised more than $590 million in equity and junior debt to support its growth in the attractive and fast moving French fiber market through its subsidiary Altitude Infrastructure.

This investment is the natural next step given:

  • Altitude Infrastructure's development following more than a decade of uninterrupted and mostly organic growth. The funds will allow Altitude to continue gaining scale in the French fiber market and consolidate its position as the largest independent fiber player in France. The timing of the transactions, successfully executed during a period of significant market volatility and disruption from COVID-19, is a strong testimony to the resilience of the Altitude business model and attractiveness of the fiber network industry. 
  • The recent acquisition of Kosc by Altitude. This fundraise is also a great opportunity for Kosc, which is expected to rely on the next phase of investment to widen its product offering and network reach.

In addition to its commitment to the residential FTTH space, with over 3 million contracted plugs across 17 Public Initiative Networks, Altitude Infrastructure is dedicating greater energy and investments in the infrastructure space dedicated to corporations and SMEs.

 

 

 

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