Altice to acquire Orange Dominicana
Published on: 27th Nov 2013
Note -- this news article is more than a year old.
Orange Group has sold its Dominican Republic subsidiary for USD1.4 billion to a consortium being lead by Luxembourg's Altice, which recently bought the local cable TV network, Tricom.
Altice said that it is also finalizing an agreement with the local conglomerate, Grupo Leon Jimenes, to join as local partners on its telecom investments in the Dominican Republic, including Orange Dominicana and Tricom.
The transaction is subject to the approval of the Dominican authorities and Board of Directors of Orange. It also includes the right to use the Orange brandname for an unspecified timeperiod.
With Orange Dominicana and Tricom having a combined total subscriber base of approximately 4.0 million, Altice said that it will be in a stronger position to accelerate the upgrade and deployment of both fixed and mobile networks.
The Orange Dominicana transaction also strengthens Altice's presence in the Caribbean where it already offers pay-TV, high-speed broadband and mobile services in Martinique, Guadeloupe and French Guyana.
Commenting on the transaction, Dexter Goei, CEO of Altice, stated: "We are very pleased with the acquisition of Orange Dominicana which is demonstrating strong growth and provides for - through both a state-of-the art mobile communications network and a high quality management team - a perfect fit with our strategic vision to offer high quality quadruple-play services to our subscribers. Combined with our acquisition of Tricom, this is another great example of our strategy of in-market and regional consolidation."
Altice is a Luxembourg based company, founded by telecom entrepreneur Patrick Drahi. Altice and its affiliates currently regroup and operate cable, mobile, DSL and datacentre companies in France, Israel, Belgium, Luxembourg, the Caribbean, Indian Ocean, Portugal and Switzerland.