Iliad / Altitude Telecom

Iliad Group (Free) has reached an agreement with Altitude Telecom’s shareholders to acquire 100% of the shares of the company. The transaction, which has been approved by Iliad’s Board of Directors, is anticipated to close on or about November 15th, 2005. This acquisition is not expected to have a significant impact on the consolidated results in the medium term.

Altitude Telecom owns the only national WiMAX licence (3.5 Ghz frequency) granted by ARCEP, the French Telecommunications Regulatory Authority.

The transaction has been structured such that Iliad will acquire Altitude Telecom’s residential and WiMAX activities. Altitude Développement, a company majority owned by Mr. Jean-Paul Rivière, will continue to develop the enterprise and public contracts activities previously operated within Altitude Telecom.