Green light for Orange takeover of Jazztel
Thursday, May 21, 2015 @ 12:09 PM
A BUY-OUT of mobile and internet provider Jazztel by its French counterpart Orange has been approved by the European Commission and is reported to carry a price tag of €3.4 billion.
This will make Orange the third-largest telecommunications operator in Spain after Telefónica and Vodafone, just ahead of Yoigo and ONO.
As part of the terms of the deal, Orange has agreed to supply a network of fibreoptic home internet (FTTH) covering between 700,000 and 800,000 properties in five of Spain's largest cities – Madrid, Barcelona, Valencia, Sevilla and Málaga.
The firm has also agreed to provide access to Jazztel ADSL to buyers of the fibreoptic network for up to eight years.
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