News
France Telecom-Orange to sell Orange Austria
03 February 2012
France Telecom-Orange and partner Mid Europa Partners (MEP) have agreed to sell their combined 100% stake of Orange Austria.
The company will be sold to Hong Kong based Hutchison 3G. Orange is expected to gain around $92m for its stake with the deal valued overall at $1.7bn, including debt.
As part of the deal, after acquiring Orange Austria, Hutchison will sell frequencies, base station sites, Yess! Telekommunikation and certain IP rights to Telekom Austria Group .
France Telecom-Orange currently has a 35% stake in Orange Austria with MEP owning 65%.
The completion of the deal is expected to happen in the middle of this year.
David Hing, London