France Telecom sells Orange Austria stake

France Telecom and private-equity group Mid Europa Partners have completed the sale of mobile operator Orange Austria following approval of the deal by competition regulators.

The pair have sold the operator to Hutchison Whampoa’s Austrian subsidiary Hutchison 3G Austria Holdings in a deal that values the company at €1.3 billion. France Telecom had a 35% stake in the operator, while Mid Europa Partners held 65%. France Telecom’s cash proceeds from the deal amount to about €70 million.