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Friday, February 3, 2012

Orange Austria being sold to Hutchison

OrangeOrange Austria is to be sold to Hutchison 3G Austria, subject to regulatory approval. France Telecom-Orange currently owns 35% of the business, while Mid Europa Partners controls 65%. Both parties have agreed to sell their combined stakes to Hutchison.

Hutchison will sell certain frequencies, base station sites and the Yesss! Telekommunikation MVNO to Telekom Austria Group after the acquisition has taken place.

The deal, which is expected to be completed this summer, values Orange Austria at around €1.3 billion (£1.1 billion).

Orange recently announced plans to sell Orange Switzerland to investment group Apax Partners.

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Author: The Fonecast
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