Welcome Guest Login | Register | Site Map | | Make TelecomTiger my homepage     
Telecom News
Enterprise |  Policy & Regulation |  Mobiles & Tabs |  Corporate |  VAS |  People Movement  |  Technology  |  LTE
Corporate
France Telecom sells Swiss unit to Apax
TT Correspondent |  |  24 Dec 2011

France Telecom-Orange announced on Friday announced  that it has reached an agreement with Apax Partners for investment funds advised by Apax Partners to sell 100% of Orange Communication S.A. (“Orange Switzerland”), France Telecom’s Swiss mobile subsidiary.

 

In a statement it said that the parties agreed on an enterprise value of CHF2.0 billion (€1.6 billion), corresponding to a multiple of 6.5x Orange Switzerland’s estimated 2011 EBITDA.

The transaction, which is subject to the approval of the Swiss competent authorities will be submitted to the Board of Directors of France Telecom for approval during the week commencing on January 9, 2012.

Upon completion, this transaction will constitute a significant step in the optimization of France Telecom's assets portfolio announced in May 2011.

Orange Switzerland was established in 1999 and became one of the leading mobile operators in Switzerland. The company posted revenue of CHF1.3 billion (€1.1 billion) in 2010 and had a customer base of 1.6 million at the end of September 2011. The company employs approximately 1,200 people.

    
 mail this article    print this article    Show and Post comment
24 Dec 2011(IST)  
Whitepaper
Maintain Business Continuity with Cisco ASR 9000 nV Technology
It is a virtual chassis solution where a pair of ASR 9000 routers acts as a single device by maintaining a single contr...read more
Simplify Your Network with Cisco ASR 9000 nV Technology
With the new Cisco Network Virtualization (nV) technology in the Cisco ASR 9000 Series Aggregation Services Routers, se...read more
Cisco Small Cell Solution: Reduce Costs, Improve Coverage
It is designed to address the challenge of mobile service coverage and to expand network capacity...read more