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Apax buys Orange’s Swiss unit for $2.14bn
28 December 2011
Private equity company wins Orange Switzerland in $2.14bn deal with France Telecom Orange
France Telecom Orange has agreed to sell its Swiss mobile unit
Orange Switzerland to private equity investment firm Apax
Partners for 2 billion Swiss francs ($2.14 billion).
The deal, subject to approval by Swiss authorities, will be
presented to the board of directors of France Telecom for
approval during the week starting January 9 2012.
Switzerland’s competition regulator blocked an
earlier attempt to merge the unit with TDC’s rival
operator Sunshine. TDC eventually sold Sunshine to another
private equity company.
The sale is part of France Telecom’s strategy to
offload some European assets and concentrate on the emerging
telecoms sector in Africa and the Middle East.
France Telecom’s European operations will continue
in France, Spain, the UK — where it has a joint
venture with Deutsche Telekom — and Poland.
Further reading from Global Telecoms
Hutch 'to buy Orange Austria' for $1.4bn
28 Nov 2011
Bids for Orange Swiss due in December 10 Nov 2011
Orange Switzerland sale to
start soon 03 Oct 2011
TDC sells Swiss unit to CVC for
$3.3bn 17 Sep