Luxembourg-based telco Altice is reportedly close to striking a deal to acquire French incumbent Orange’s Dominican Republic unit.
An agreement could be announced as early as this week, Bloomberg reported, citing three people familiar with the matter….
Luxembourg-based telco Altice is reportedly close to striking a deal to acquire French incumbent Orange’s Dominican Republic unit.
An agreement could be announced as early as this week, Bloomberg reported, citing three people familiar with the matter. However, details are still being finalised.
Last week, Orange CEO Stephane Richard said at a conference his company is nearing an agreement to sell Orange Dominicana – the nation’s number two wireless operator – for more than €1bn (US$1.35bn), but did not say who to.
Orange and Altice have both declined to comment.
This summer, analysts valued Orange Dominicana at between €675m (US$886m) and €900m (US$1.18bn). Digicel and Cable & Wireless Communications, which both have significant holdings in the Caribbean, were also said to have been interested in the unit.
TelecomFinance learnt earlier this month that Altice is looking at additional acquisitions in the Dominican Republic following its purchase of an 88% stake in quad-play operator Tricom. The value of the deal, announced on 1 November and subject to regulatory approval, was not disclosed.
Altice has been in expansion mode recently, also acquiring Outremer Telecom, which operates across French territories in the Caribbean and Indian oceans, Portuguese telco Oni and Reunion island-based Mobius.
Meanwhile Altice is in the process of increasing its stake in French cableco Numericable to 40%.
