French entrepreneur Xavier Niel is reportedly one of about ten bidders for mobile operator Orange Switzerland, which has been put up for sale by France Telecom.
Niel is not bidding on behalf of French telco Iliad, which he founded, according to reports…
French entrepreneur Xavier Niel is reportedly one of about ten bidders for mobile operator Orange Switzerland, which has been put up for sale by France Telecom.
Niel is not bidding on behalf of French telco Iliad, which he founded, according to reports citing local daily Les Echos.
FT declined to comment on the speculation, but a spokesman said the group was on track with initial planning to finalise the process by the end of the year.
“We are anticipating raising between E1.5bn and E2bn through this deal,” he added.
FT CEO Stephane Richard told Reuters in an interview today that the current eurozone crisis will not lower the proceeds it receives from the Swiss sale.
Earlier this month, it was reported that FT had asked banks including Credit Suisse to prepare a pre-arranged financing package for the process.
As previously reported, the majority of interest in Orange Switzerland is coming from private equity firms, with Apax, EQT and Providence among potential candidates, although there are also strategic players in the running.
Reports suggest US media giant Liberty Global and Egyptian tycoon Naguib Sawiris are interested in acquiring the group.
FT announced plans to sell the group on 28 July 2011 as part of a review of European assets. It is being advised by Lazard and Perella Weinberg Partners.
