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Spain/UK: Orange targets Spanish market in $4.3B deal

By  |  September 16, 2014

UK telco Orange is reportedly pursuing boosted investment in its second-largest market, Spain, through a buyout of Spanish wireless and broadband operator Jazztel.

Jazztel issued a regulatory finding late Monday that announced the $4.3 billion takeover offer for Orange to wholly acquire the company. The transaction involves Jazztel’s chairman selling his 14.48 percent of the company to Orange, which has already been agreed upon, reports say.

According to reports, Orange would nearly double its size in Spain’s broadband Internet market, overcoming top rival Vodafone.

The deal remains subject to customary regulatory approval; reports did not indicate when the companies expect to close the acquisition.

Full content: Wall Street Journal

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