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Niel gets regulatory nod for Orange deal

2015-02-16 01:00:00| Total Telecom industry news

ComCom gives green light to French businessman's acquisition of Swiss mobile operator.

Free owner Niel to buy Orange Switzerland for CHF 2.8 bln

2014-12-18 13:01:00| Telecompaper Headlines

(Telecompaper) The private equity funds Apax Partners announced an agreement to sell Orange Switzerland to NJJ Capital for CHF 2.8 billion (EUR 2.3 billion). NJJ Capital is the holding company of Xavier Niel, the founder and controlling shareholder of French operator Free. The transaction is subject to customary regulatory approval and is expected to be completed by the end of Q1 2015. Apax said it expects to generate a strong return on the investment, acquired in 2012 from French group Orange. Over the last three years, it has successfully modernised the mobile operator's IT systems, launched 4G commercial services, now reaching over 90 per cent of the Swiss population, and expanded the retail network with eight store openings this year, including a flagship store in Zurich.

Tags: free buy owner orange