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4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  Altice    ATC   NL0011333752

ALTICE (ATC)
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French telcos to spend $3.7 billion to plug network gaps

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01/14/2018 | 10:01pm CET
FILE PHOTO - A man makes a phone call using his mobile phone at the Trocadero Square near the Eiffel Tower in Paris

France's mobile telephone operators will spend more than 3 billion euros ($3.7 billion) rolling out a 4G network to ensure there are no coverage gaps by 2020, a government minister said.

Each of the major operators would install 5,000 masts and antennas and jointly ensure network coverage along 30,000 km (19,000 miles) of rail tracks, Julien Denormandie, junior minister for territorial cohesion, told the Journal du Dimanche.

The finance ministry later confirmed these details.

Orange (>> Orange), formerly the state-owned monopoly France Telecom, SFR (>> Altice), Bouygues Telecom (>> Bouygues), and Iliad's (>> Iliad) Free Mobile have all under-invested in France's mobile network during the past 15 years, the minister said.

"I want to put an end to 'The network's bad, I'll call you back'," Denormandie told the weekly paper, published on Sunday.

Asked how much financing the state would contribute, the minister replied: "Not a single cent will come from the budget!"

Denormandie said that in return for the increased investment, the government would extend the telecoms companies’ spectrum licences instead of holding a new auction, effectively giving up future income.

The last spectrum auction in 2015 raised 2.8 billion euros for French state coffers.

Mobile users often complain that the French network can seem inferior to coverage in some African countries where telecom companies bypassed fixed lines and invested heavily in mobile.

As of July 2017, the 4G networks of SFR, Bouygues Telecom, Orange and Free Mobile covered 74 percent, 70 percent, 69 percent and 47 percent of the population respectively in low density zones, according to the telecoms regulator Arcep.

Denormandie said the three-year rollout plan would bring 4G coverage to more than 10,000 towns and villages currently served by either 2G or 3G networks.

(This version of the story has been refiled to add dropped "billion" in headline)

(Reporting by Richard Lough; Editing by Kevin Liffey and Alexander Smith)

Stocks treated in this article : Bouygues, Orange, Iliad, Altice
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Financials (€)
Sales 2017 23 526 M
EBIT 2017 2 149 M
Net income 2017 -1 197 M
Debt 2017 50 030 M
Yield 2017 0,46%
P/E ratio 2017 -
P/E ratio 2018 486,49
EV / Sales 2017 2,82x
EV / Sales 2018 2,80x
Capitalization 16 416 M
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Number of Analysts 16
Average target price 14,7 €
Spread / Average Target 63%
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Managers
NameTitle
Dexter G. Goei Chief Executive Officer & Director
Patrick Drahi President
Jurgen van Breukelen Chairman
Dennis Okhuijsen Chief Financial Officer & Executive Director
Bruno Zerbib Chief Technology Officer
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