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Orange to sell Dominican Republic unit for over EUR 1 bln

2013-11-22 23:43:00| Telecompaper Headlines

(Telecompaper) Orange is within days of announcing the sale of its Dominican Republic unit for "well over" EUR 1 billion (approximately USD 1.35 billion), the Wall Street Journal reports, citing Orange CEO Stephane Richard. "The probability that we'll make a Dominican Republic announcement in coming days is very high," Richard said. "It's for a value well above what had been expected, well above EUR 1 billion", he added. The statement was made at a Morgan Stanley investor conference in Barcelona. Richard declined to name the buyer or give further details related to the deal. Three sources familiar with the matter told Bloomberg that the likely buyer is cable investment group Altice. The latter last month acquired the Dominican operator Tricom.

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Category:Telecommunications

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