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Orange may sell less-profitable subsidiaries in Africa - CEO
2013-11-29 10:00:00| Telecompaper Headlines
(Telecompaper) Orange sold its profitable subsidiary in the Dominican Republic because its synergies with the rest of the group were not strong enough, according to the executive vice president for strategy and development, Elie Girard. He said to Les Echos, "The local market is converging between fixed and mobile. We did not want to take this path, which would have been financially costly." Speaking to La Tribune, group chairman and CEO Stephane Richard stated that African units may also be put up for sale, notably the less profitable ones. Brokerage house Oddo sees in this the view of shareholders that a stable EBITDA is more important than customer base. In 2010, Orange said it aimed to have 300 million customers by 2015 by growing in Africa and the Middle East and Asia. Richard told La Tribune that the group now has 50 percent more customersthan it did in 2009, which is "not so bad" in these times. He stressed that four large countries had joined the group, Morocco, Tunisia, Irak and the Democratic Republic of Congo. Orange now expects to have around 260 million or 270 million customers in 2015, according to a member of the executive committee.
Orange says 4G driving m-commerce uptake
2013-11-29 01:00:00| Total Telecom industry news
Research reveals mobile phones becoming central to consumers' shopping experience.
Tags: orange
driving
uptake
mcommerce
Altice to acquire Orange Dominicana for USD 1.4 bln
2013-11-27 09:23:00| Telecompaper Headlines
(Telecompaper) Investment fund Altice has agreed to acquire Orange's Dominican Republic unit for around USD 1.4 billion (approximately EUR 1.1 billion). The agreement includes the continued use of the Orange brand by Orange Dominicana within a defined framework. The transaction, which is subject to the approval of the Dominican authorities, will be submitted by Orange Dominicana to the Orange board of directors during the week commencing 9 December. Altice also plans to soon finalize an agreement with Dominican Republic business group Grupo Leon Jimenes to join as local partners on its telecom investments in the Dominican Republic, including Orange Dominicana and Tricom.
Orange to sell Dominican Republic unit for 1.1bn
2013-11-27 01:00:00| Total Telecom industry news
French telco offloads Orange Dominicana to investment firm in bid to reduce debt.
Tags: sell
unit
orange
republic
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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