The move means that Orange is now free to go ahead with its offering for publicly-listed Jazztel’s stock. The telco is offering €13 per share in cash, valuing the alternative operator at €3.4 billion. The offer is conditional on shareholders of Jazztel holding in aggregate at least 50% plus one share of the maximum theoretical share capital irrevocably accepting the offer. Orange has already secured irrevocable commitments to accept the offer from shareholders representing 14.804% of the issued share capital of Jazztel.
Orange aims, through the acquisition, to create the second largest fixed-line broadband operator in the market with a strong presence in mobile. According to Orange, the deal will generate global synergies of €1.3 billion thanks to savings in operational expenditure and investment in networks.
DTVE: the week in view – The changing face of Liberty Global digitaltveurope.com/comment/the-ch… https://t.co/PFVbZ48A5j
26 September 2021 @ 19:00:01 UTC
Register for the brand new
DTVE Autumn Symposium 2021 - starts next month! digitaltveurope.com/2021/09/20/dtv… https://t.co/2OTGmvDGUP
26 September 2021 @ 14:00:01 UTC