Saturday, December 24, 2011
Orange Switzerland to be sold
France Telecom-Orange has announced an agreement to sell Orange Switzerland to investment group Apax Partners in a deal worth 2 billion Swiss Francs (£1.37 billion). The arrangement is subject to regulatory approval.
Last year a plan by France Telecom and TDC to combine Orange Switzerland with Sunrise Communications was rejected by the Swiss Competition Commission.
Orange Switzerland was established in 1999 and had 1.6 million customers at the end of September 2011. It employs approximately 1,200 people.