Hutchison Whampoa unit agrees to acquire Orange Austria
Hong Kong conglomerate Hutchison Whampoa Ltd. Friday confirmed its unit has signed a binding agreement to buy Austria's third-largest mobile operator Orange Austria, in a move that will enable the ports-to-telecom operator to expand its market share in the country.
Hutchison Whampoa unit, Hutchison 3G Austria, agreed to buy 100% of Orange Austria from France Telecom SA, which owned a 35% stake, and private-equity firm Mid Europa Partners, which held the remaining 65% stake.
The agreement implies an enterprise value of approximately EUR1.3 billion for Orange Austria and the transaction is expected to be completed in mid-2012, the statement said.
As part of the sale agreement, Hutchison Whampoa's unit has agreed to divest assets to The Telekom Austria Group for EUR390 million. The assets include some frequencies, base station sites, Orange Austria's local discount operator Yesss! Telekommunikation GmbH and some property rights, Hutchison said.
The net consideration payable by Hutchison Whampoa's Austria unit is EUR900 million after the sale of the assets, the statement said.
Источник: Total Telecom
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