ATC Europe in Negotiations to Acquire TDF
American Tower (ATC) is reportedly in the running to acquire TDF Infrastructure, one of France’s largest tower operators. According to the Financial Times, ATC is among several serious bidders, including Ardian, EQT Group, and Antin.
A sale could value TDF between €8–10 billion, making it one of the largest digital infrastructure transactions in Europe. Brookfield Asset Management — a 45% shareholder — has hired BNP Paribas and UBS to lead the process. Other major shareholders include APG, Arcus Infrastructure Partners, PSP Investments, and Crédit Agricole Assurances.
TDF operates 8,000+ towers across France, serving major carriers like Orange and Free. Previous attempts to sell the company in 2023 stalled, but last year’s divestment of TDF’s fiber broadband network to DIF Capital Partners may increase buyer interest this time around.
For American Tower, which already owns 4,400 towers in France, acquiring TDF would significantly strengthen its position in one of Europe’s most important tower markets.
