In France, Bouygues Telecom and SFR concluded a network-sharing agreement in February 2014, enabling them to reduce cell sites by about 40 per cent. This has generated savings of about EUR 100 million per year for Bouygues Telecom and EUR 200 million per year for SFR12. Tech City is a cluster of technology companies and support-service firms based in East London and endorsed by the UK government and the Mayor of London14.