(Adds detail from call)May 18 (Reuters) - Telecoms group Iliad reported like-for-like revenue growth of almost 5% in the first quarter, helped by a rise in mobile and broadband subscribers, and announced plans to step up spending on 5G networks.
“These commercial results can be explained by the strong dynamic of our network rollouts, which we will continue to accelerate,” Chief Executive Thomas Reynaud told reporters in a call on Tuesday.
Iliad, controlled by billionaire Xavier Niel, said it would review its 2021 cash flow target for France in order to speed up spending on 5G networks in the country, where it launched the cheapest offer of the four main operators late last year.
To help ramp up spending, the Paris-based group said it would sell its 30% stake in On Tower France, which it values at a minimum of 600 million euros ($731 million).
In Poland, it said its integration of mobile operator Play - bought late last year - was proceeding ahead of schedule, with 8,000 new customers added over the first three months of 2021.
Thomas Reynaud, Xavier Niel
Bouygues Telecom, Altice’s, Free Mobile
Orange, Italy, Poland, France, Paris, Tower France