Brookfield Asset Management is emerging as the frontrunner to acquire a controlling stake in Xp Fibre, Patrick Drahi’s French fiber optic company, according to sources. The New York-based firm is in advanced negotiations and could finalize a deal within weeks, outpacing rivals like Digital Bridge Group and KKR. This move positions Brookfield to gain control over Xp Fibre’s critical fiber-to-the-home infrastructure, which serves millions across France. Altice France SA, owned by Drahi, holds 50.01% of Xp Fibre, complicating the acquisition dynamics. The proposed valuation of €8 billion ($9.4 billion) includes debt, reflecting the high stakes of this telecom assets play.

The bid underscores growing interest in fiber infrastructure amid global broadband expansion. Patrick Drahi, a telecom mogul, has been central to Xp Fibre’s growth, though his stake through Altice France may influence negotiations. Other shortlisted bidders, including Vauban Infrastructure Partners, have been outmaneuvered by Brookfield’s aggressive stance. This consolidation trend highlights the strategic value of high-speed internet networks in an era of digital demand. Xp Fibre’s infrastructure, already a backbone for French ISPs, could see renewed investment if the deal closes.

The outcome may reshape France’s fiber market, potentially boosting broadband competition or consolidating control. Investors should note the €8B valuation as a key benchmark, signaling the asset’s premium positioning. While Altice France’s majority stake adds complexity, Brookfield’s track record in infrastructure deals suggests a likely success. This acquisition aligns with Brookfield’s broader strategy to expand in tech-driven sectors, particularly where digital infrastructure underpins economic growth.