PARIS (dpa-AFX) - Orange S.A. (ORA.PA), a French telecom company, Tuesday announced that it is forming a joint venture with privately held global infrastructure investor Morrison to create a jointly controlled data center company located in France.
This 50-50 joint venture is expected to support the development and enhancement of Orange's existing French data center portfolio, targeting capacity of 400 MW - nearly ten times its current capacity.
The platform will be supported by an investment program of €3 billion leveraging Orange's existing assets, along with Morrison's equity contribution and debt.
As part of this agreement, the telecom company will contribute 5 major data centers across 4 campuses in France along with its operational expertise and commercial reach.
'Europe's digital future will require significant new investment in trusted infrastructure capable of supporting the growth of cloud services, artificial intelligence and data-intensive applications. Together with Orange, we are contemplating the creation of a platform that combines strategic infrastructure assets, operational expertise and long-term capital to meet that challenge. We believe France is exceptionally well positioned to play a leading role in Europe's digital economy.' William Smales, Chief Investment Officer, Morrison.
The signing of the transaction is expected to happen by 2026 end and the closing is surmised in the first quarter of 2027.
On Monday, ORA.PA shares closed at €16.42, up 1.58% on the Paris Stock Exchange.
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