Orange Close to Sale of Dominican Republic Subsidiary
Published on: 24th Nov 2013
Note -- this news article is more than a year old.
France's Orange expects to confirm the details of the long expected sale of its Dominican Republic subsidiary later this week, the company's CEO has confirmed.
Speaking at a Morgan Stanley investor conference, Stephane Richard said he expected to announce a deal worth "significantly over EUR 1 billion" -- or around USD1.35 billion.
The price being talked about is notably higher than then EUR900 million that had been expected when sale talks started a few months ago.
Richard said on Friday that expectations about the price had risen.
Three companies are understood to have expressed an interest -- the local conglomerate, Grupo Leon Jimenes and two existing telecoms operators, Digicel and Cable & Wireless.
Orange Dominicana has around 3.3 million customers as at the end of September.