Hoche Avocats advises TDF on the conclusion of a strategic agreement with Free for the deployment of 2,500 new telecommunications sites in France

Paris, 27 February 2026 – Hoche Avocats advised TDF in connection with the execution of a strategic Build-to-Suit (BTS) agreement with Free, a subsidiary of the iliad Group, providing for the deployment of 2,500 new telecommunications sites in France, aimed at supporting the nationwide expansion and densification of Free’s 4G/5G mobile network.

As part of this transaction, TDF and Free entered into an investment agreement providing for the execution of a 20-year Master Service Agreement, pursuant to which Free will remain the anchor tenant of the sites to be developed. The transaction remains subject to customary regulatory approvals.

TDF is a leading European digital infrastructure and network operator, with more than 8,800 commercialised sites across France and the French territories. The iliad Group is a major European telecommunications player, serving approximately 15.7 million mobile subscribers in France through its subsidiary Free.

The Hoche Avocats team led by Guillaume Seligmann (partner) advised TDF on all legal aspects of the transaction, in coordination with the Legal Department of TDF lead by Nicolas Gauthier.

The Hoche Avocats team included:

• Guillaume Seligmann (partner) and Héloïse Masson (counsel) on all aspects of the transaction,
• Didier Fornoni (partner),Vincent Guilaine (associate) and Julien Tirel (associate) on corporate/M&A matters,
• Mathilde Le Roy (partner) and Inès Leroy (associate) on tax matters,
• Real estate aspects were handled by Fairway (Alexandre Poupard, partner and Mary Dutton, associate).