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The French fibre operator has raised half a billion euros in equity to boost its newly acquired wholesaler Kosc
Altitude Infrastructure has raised €500 million in equity and debt, aiming to plug these funds into its newly acquired wholesaler Kosc as part of a €2.5 billion fibre investment scheme over the next three years.
Altitude acquired Kosc Telecom back at the start of August for €14 million. At the time, Altitude MD Dorothée Lebarbier said that helping Kosc to grow would support businesses’ digitalisation process as the result of the coronavirus pandemic.
“The health crisis we are going through has further highlighted the need for French-based companies of all sizes to have access to high-quality broadband coverage in all areas of the country”, said Lebarbier. “Supporting Kosc’s activity enables us to offer these companies the tools to succeed in their digitalisation and, in the present context, in their economic recovery.”
Now, with €500 million raised Kosc should be in good position to expand rapidly, both geographically and in terms of potential offers to the B2B market segment. Currently, Kosc’s services are available primarily in high and moderately-high density areas, which complements Altitudes own FTTP offerings in more rural areas.
But for Altitude, this is just the start of a wider programme of fibre investment, which will total around €2.5 billion over the coming three years.
“This fundraising allows us to mobilise 2.5 billion in investments over three years. Our ambition for Altitude is to develop, through Kosc, solutions that meet the specific requirements of companies,” explained Lebarbier.
Altitude said that, as a result of its investment, Kosc is expected to turnover between €80 million and €100 million in 2022.
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