SFR buys MVNO Coriolis for € 415 million

In a tweet, Altice, parent company of SFR confirms the acquisition of the MVNO Coriolis. The exclusivity agreement will enable the operator to gain 500,000 new customers, all for the sum of 415 million euros.

MVNOs in the telecommunications market are dependent on major operators. In order to market attractive offers, brands must regularly rent lines from French giants. Until now, Coriolis relied on Orange and SFR to offer a stable mobile network to its customers. The MVNO is however for sale and it is the company of Patrick Drahi, by the voice of its parent company Altice which claims the acquisition of the firm.

SFR acquires half a million customers thanks to Coriolis

In a message published on its Twitter account, Altice France first announced the repurchase price. The amount of the transaction is 298 million on the initial transaction. There will then remain 117 million euros to be paid deferred. In total, the amount of the transaction reached 415 million euros. Everything must first be submitted for approvals before being ratified at the beginning of 2022. Thanks to this, SFR is recovering the 500,000 individual customers of Coriolis but also the 30,000 professionals. The objective is therefore to address both the general public and businesses.

Altice France signs an exclusivity agreement for the acquisition of @CoriolisTelecom pic.twitter.com/efyL9othZp

– Altice France (@AlticeFrance) September 20, 2021

For the historical component, Coriolis was founded in 1999 by Pierre Bontemps. It is therefore a well-known brand which is about to be absorbed by a major operator. There are still some questions about the future. Is the Coriolis nomenclature doomed to disappear? Especially since the offer within SFR is already provided. The price / quality ratio is occupied by the RED brand while the parent company deals with larger offers. Patrick Drahi’s company could thus further develop its business part, but that’s not all.

In the press release, Altice highlights the infrastructures developed by Coriolis in terms of customer relations. Four contact centers in France and abroad will allow the company to benefit from better customer service.

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