Home / Business and Economy / Orange Secures 1.3B Euro Financing for Scorefit Acquisition
Orange Secures 1.3B Euro Financing for Scorefit Acquisition
28 Apr
Summary
- Orange secured a 1.3 billion euro financing agreement.
- The five-year financing is for the Scorefit acquisition.
- Scorefit holds fibre access assets bought on France's market.
French telecommunications firm Orange has secured a substantial 1.3 billion euro financing agreement to facilitate its acquisition of Scorefit. The deal, spanning five years, was finalized with major financial institutions CaixaBank and BNP Paribas. This strategic move underscores Orange's commitment to expanding its operational footprint.
Scorefit, an entity formerly fully owned by a BNP Paribas subsidiary, possesses significant fiber access assets. These assets were originally procured from the French wholesale market, positioning Scorefit as a key player in the nation's telecommunications infrastructure.
This acquisition is expected to integrate Scorefit's valuable assets into Orange's network. The company's focus remains on enhancing its service offerings and strengthening its competitive position within the French and broader European markets.
