New shareholders

An agreement has been signed between the existing shareholders and two new investors, TPG and AXA Private Equity, relating to changes in TDF’s shareholding structure with a view to stepping up the rollout of the company’s operational strategy in France and abroad.

This deal will give TDF the funds required to implement its plans and assist its clients in their transition to a ‘Pure Digital’ world, while maintaining a strong balance sheet. It will comprise funds for the company’s organic growth amounting to €1 billion over 5 years and a potential maximum amount of €1 billion to finance mergers or acquisitions.

This agreement bears witness to the confidence shown by the shareholders in TDF’s development strategy. This change in shareholders continues the relationship with Caisse des Dépôts and Charterhouse Capital Partners, who are reinvesting in the company by acquiring a combined 38% stake while maintaining a balance between the shareholders who share the same long-term vision.

The new shareholding structure after the transaction will be as follows:

• La Caisse des Dépôts et Consignations: 24%
• Charterhouse Capital Partners: 14%
• TPG: 42%
• AXA Private Equity: 18%
• Management and employees: 2%

 

The deal is subject to approval from the relevant authorities.

This change in TDF’s shareholding structure is part of a process launched during the summer on completion of the Group’s operational strategy and reorganisation, which resulted in the creation of a multi-media division. This capital injection gives the company sufficient funds to assist clients in future transformations. The key future events are as follows:

• Terrestrial digital TV: start of phase IV on 15 October 2006 and subsequent rollout with a view to national coverage
• TVHD: testing underway in Paris, Lyon and Marseille, commercial launch planned for 2007
• Mobile TV: testing in Paris, commercial launch in Finland at the end of the year, and in France and Spain in 2007
• Digital radio: discussions underway conducted by the public authorities with a view to a commercial launch in 2007
• Telecoms: continued deployment of 3G, rollout of GSM to all areas currently not covered, integration of complete services from design to operations
• Wimax: HDRR, a TDF subsidiary, since July 2006 holds 11 regional licences and is preparing to deploy the network in regions not covered by ADSL: pilot département (French county) at the end of 2006, commercial launch in 2007. Digita, a TDF subsidiary based in Finland, will begin an ISP service via radio at the beginning of 2007.

• TDF Contact

Thierry Bernard – PR Director

DL: 01 55 95 23 56 - E-mail: thierry.bernard@tdf.fr