Iliad completes acquisition of Alice

August 27, 2008 - Iliad Telecom, the parent company of French triple-play operator Free, has completed its acquisition of Telecom Italia's French subsidiary Alice for €775mn (US$1.14bn).

"This award reflects the value of the activity of a portfolio of approximately 850 000 active subscribers, the tax saving on the use of forwards deficits, estimated at first to approach 350 million and cash estimated at 15 million euros," said Iliad Telecom in a statement.

The deal gives Free a 25.5% share of the French ADSL market, with around 4mn subscribers.