Orange Sells Dominican Republic Subsidiary for $1.4 Billion
Published on: 9th Apr 2014
Note -- this news article is more than a year old.
Orange says that it has completed the previously announced sale of its mobile network in the Dominican Republic to a local consortium controlled by Luxembourg based Altice.
It sold the company for USD1.4 billion.
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.
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.