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France's Iliad cuts 2020 cash-flow target, mulls selling part of its assets

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France's Iliad cuts 2020 cash-flow target, mulls selling part of its assets
FILE PHOTO: Guests waits before French telecoms operator Iliad the media conference in Milan, Italy, May 29, 2018. REUTERS/Stefano Rellandini   -   Copyright  STEFANO RELLANDINI(Reuters)
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PARIS (Reuters) – Telecoms operator Iliad cut its cash-flow target for 2020 in France after a challenging year marked by heavy market promotions that hit revenues, and it added it was considering selling part of its mobile assets.

The Paris-based group now aims to generate a cash flow of more than 800 million euros(683.79 million pounds) in 2020 and around 1 billion euros in 2021. It had previously aimed to yield around 1 billion euros in 2020.

The company, controlled by billionaire Xavier Niel, said it was considering the sale of part of its mobile assets.

“The group has begun a process to review its mobile assets and is currently exploring the possibility of forming an industrial partnership with an investment fund for its passive mobile infrastructure, concerning approximately 5,700 mobile sites,” it said in a statement on Tuesday.

Iliad’s number of subscribers fell in both its fixed and mobile businesses in 2018 in France. Consolidated revenues in the country were down by 1.9 percent over the period to 4.77 billion euros.

(Reporting by Mathieu Rosemain and Gwenaelle Barzic; Editing by Sudip Kar-Gupta)

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