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White & Case Advises Bouygues Telecom and Blackstone-Backed Phoenix France Infrastructures on Financing of 4,000 Telecoms Sites Across France

Global law firm White & Case LLP has advised Bouygues Telecom and Phoenix France Infrastructures on the financing of a project to develop a portfolio of approximately 4,000 newly constructed wireless towers outside the so-called ‘Very Dense Areas’ in France.

Bouygues Telecom and Phoenix Tower International, a Blackstone portfolio company, have established a long-term partnership in the form of a joint venture named Phoenix France Infrastructures which will own and operate the passive infrastructure (i.e. the sites). Bouygues Telecom will retain the ownership and operation of all the active equipment of its network.

Through this partnership, Bouygues Telecom is able to sustain its investments outside the so-called ‘Very Dense Areas’ in France while meeting the requirements of the French ‘New Deal Mobile’. Bouygues Telecom is therefore considerably strengthening its mobile coverage in rural areas while focusing on its core business as a mobile operator.

Natixis and Banco Santander acted as arrangers, lenders and hedging banks in the transaction.

The White & Case team in Paris which advised on the transaction was led by partner Amaury de Feydeau with support from associates Paul Loisel and Ahmed Boulahcen. 

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