Altice to buy 100 percent of Orange Dominicana

The Orange Group announced today that it has reached an agreement with Altice to sell 100 percent of Orange Dominicana S.A., its  subsidiary in the Dominican Republic.

The parties agreed on an enterprise Value of $1.435 billion (EUR 1.1 billion). The transaction, which is subject to the approval of the Dominican Republic’s competent

authorities will be submitted to the board of directors of the Orange Group for approval during the week commencing December 9, 2013.

Upon completion, this transaction will represent a significant step forward in the optimization of Orange’s assets portfolio as announced in 2011.

Orange Dominicana was established in 2000 and is now a leading telecommunication operator in the Dominican Republic, one of the largest and most dynamic economies in the Caribbean with an estimated population over 10 million.

The company posted revenues of DOP 22.8 billion (EUR 451 million) in 2012 and had 3.4 million subscribers at the end of September 2013. The company employs approximately 1,400 people.

Also Read

Leave a Reply

%d bloggers like this: