ADTiM is an SPV holding two fiber business units (PIN1G and PIN2G) in the Ardèche and Drôme regions of South-East France. PIN1G operates an existing 2,300km telecom network under a 25-year concession awarded in 2008. PIN2G is an 18-year, ultra-fast Fibre-to-the-Home (“FttH”) contract to connect 310,000 new FttH connections. Both form part of France’s 2012 Ultra-Fast Broadband Plan, with DIF holding a 55% equity stake.
- Investment date
- December 2017
- DIF CIF I
- Telecom network
- Reach over local population
- Equity stake
Construction is expected to take 8 years and to cost €620 million, with the local authority investing €470 million and ADTiM the remaining €150 million. ADTiM will then look after technical operations and maintenance, while also acting as wholesale operator, leasing the network and selling services to telcos. Reaching 73% of the local population and 640 municipalities, PIN2G will play a key role in promoting the growth of internet communications, improving the delivery of essential services, and fostering growth within the local economy.
PIN’G has great potential, with the value of the business being driven both by the speed at which the network is rolled out by the authority, and by end users switching from DSL to fibre – with the ensuing connection tariffs. Over time, we aim to maximise value by, amongst others, exceeding forecast penetration rates and bringing it into stable operation.