Bouygues Telecom acquires Euro-Information Telecom
Jan 4, 2021
PARIS -- After obtaining the agreement of the Competition Authority on December 22, 2020, Bouygues Telecom and Crédit Mutuel1 are delighted to have concluded, on December 31, 2020, a long-term partnership agreement based on:
the acquisition by Bouygues Telecom of 100% of the capital of Euro-Information Telecom , which operates the Crédit Mutuel Mobile, CIC Mobile, NRJ Mobile, Auchan Telecom and CDiscount Mobile brands;
the establishment of a long-term distribution agreement allowing Crédit Mutuel to distribute Bouygues Telecom's fixed and mobile products and services through more than 4,200 local Crédit Mutuel branches and CIC bank branches.
This agreement reinforces Bouygues Telecom's growth strategy by enabling it to enrich its customer base, strengthen its regional presence and benefit from the expertise of the employees of Euro-Information Telecom , the fifth largest operator and the leading French alternative operator with 2 million mobile customers. In the longer term, it also opens up important development opportunities for Bouygues Telecom in fiber, B2B and mobile wholesale, in which Euro-Information Telecom is a benchmark player.
For Crédit Mutuel, this long-term partnership will accelerate its multiservice strategy by strengthening its telecoms offers in a rapidly changing market . This distribution agreement will benefit individual, professional and business customers of the Crédit Mutuel and CIC networks, who will thus have the best technological services available locally.
Euro-Information Telecom becomes a subsidiary of the Bouygues Telecom group, of which Aurélie Stock-Pœuf is Chairman.
Richard Viel, CEO of Bouygues Telecom, declares: “ I am delighted to have signed this partnership with Crédit Mutuel, a group with which we share a common culture and values. Through this long-term agreement, mutually favorable to both parties, Bouygues Telecom will pursue its growth strategy by relying on the strong capillarity of the Crédit Mutuel distribution network, while allowing it to benefit from its expertise and knowledge of the telecoms market. "
Daniel Baal, Chief Executive Officer of Crédit Mutuel Alliance Fédérale and Frantz Rublé, Chairman of Euro-Information, a Crédit Mutuel technology company, declare: “ We are pleased to finalize this long-term strategic partnership with Bouygues Telecom based on four common values: technological excellence, relational proximity, quality of customer relations and respect for employees. With this agreement, the Crédit Mutuel and CIC networks will continue their development in telecommunications, by combining the best of technology and customer relations. "
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