Luc Terral and Eric Berthaud signed protocol agreement to acquire 28.1% stake in Budget Telecom S.A. (ENXTPA:ALBUD) from Pascale Greppo, Khaled Zourray and other shareholders on November 8, 2013. Pascale Greppo will sell his entire stake in Budget Telecom while Khaled Zourray's stake in Budget Telecom will be reduced to 8.2% as a result of the transaction. Luc Terral and Eric Berthaud will take up management positions at Budget Telecom.

Frédéric Jungels, Arnaud de Rochebrune and David Sorel of Allen & Overy acted as legal advisors to Luc Terral and Eric Berthaud. François Le Roquais, Hugues de Fouchier and Nicolas Duboille of Granrut Avocats acted as legal advisors to the Budget Telecom.