Apax Partners’ acquisition of Orange Switzerland has received the approval of the Swiss Competition Commission (COMCO).
The commission said in a statement today its preliminary examination found no evidence that the UK-based private equity firm’s…
Apax Partners’ acquisition of Orange Switzerland has received the approval of the Swiss Competition Commission (COMCO).
The commission said in a statement today its preliminary examination found no evidence that the UK-based private equity firm’s planned purchase of Switzerland’s third largest mobile operator created or strengthened a dominant market position.
The commission noted the Swiss mobile market will retain three large network providers, which maintains competitive dynamics and allows room for innovation.
The number one and two players are Swisscom and Sunrise respectively.
Apax Partners agreed to buy Orange Switzerland from France Telecom (FT) in December 2011 for €1.6bn.
In 2010, the commission had rejected FT’s proposed merger between Orange Switzerland and Sunrise, owned by CVC Capital Partners, citing competition concerns.
