French telecoms giant Orange would be keen to acquire Spanish triple-play operator Jazztel and TeliaSonera’s budget mobile unit Yoigo to fuel growth in the country, according to a company senior executive.
Earlier today, Federico Colom, finance…
French telecoms giant Orange would be keen to acquire Spanish triple-play operator Jazztel and TeliaSonera’s budget mobile unit Yoigo to fuel growth in the country, according to a company senior executive.
Earlier today, Federico Colom, finance director for Orange’s Spanish unit, was reported as saying that if the two players were put up for sale again, the company would take part in the bidding process.
Colom spoke on the sidelines of a conference in Santander, northern Spain, and a spokesman for Orange Spain confirmed his comments, according to a Reuters report.
However, the executive pointed out that the group would first focus on organic growth in Spain, as it aims to provide 7 million homes with its fibre optic services by 2017.
In July, Orange CEO Stephane Richard was quoted as saying that the company was looking at M&A opportunities in Spain, among other countries.
As Vodafone’s €7.2bn (US$10bn) purchase of cableco Ono was gathering pace earlier this year, the French incumbent was reported to have mandated BofA Merrill Lynch to examine potential targets in the country.
Orange previously attempted to buy Yoigo but the sale process was called off last year as bidders were unwilling to match its €1bn (US$1.4bn) valuation.
Yoigo was not included in TeliaSonera’s new “three pillar” plan announced in April, fuelling market speculation that the company was up for sale once again.
