Orange Switzerland is more likely to attract private equity firms than trade buyers, Reuters reports quoting banking sources.
Apax, EQT and Providence are among the potential candidates for the mobile operator, which could be worth E1.5bn.
On July 28,…
Orange Switzerland is more likely to attract private equity firms than trade buyers, Reuters reports quoting banking sources.
Apax, EQT and Providence are among the potential candidates for the mobile operator, which could be worth E1.5bn.
On July 28, France Telecom announced the launch of a process to sell its Swiss unit as part of a review of its European assets. Lazard and Perella Weinberg Partners are advising on the sale.
France Telecom also plans to sell minority stakes in assets in which it does not exercise an operational role. It holds 35 per cent of Orange Austria and 20 per cent of Portugal’s Sonaecom, which owns mobile operator Optimus. Private equity firm Mid Europa Partners owns 65 per cent of Orange Austria, while Portuguese multi-sector retailer Sonae SGPS owns 53.17 per cent in Sonaecom.
Last year, Orange Switzerland sought to merge with rival Sunrise but the transaction was opposed by the antitrust authority. CVC finally bought Sunrise for US$3.3bn.
France Telecom is looking to expand in Africa and the Middle East.
