France Telecom finalizes the sale of Orange Switzerland

by bold-lichterman

France Telecom-Orange has just announced the finalization of the full sale of Orange Switzerland to Matterhorn Mobile SA, a company indirectly owned by funds advised by Apax Partners LLP.

Based on the enterprise value of 2 billion Swiss francs and after deduction of the company’s net external debt, the net sale proceeds for France Telecom-Orange amount to 1.83 billion Swiss francs , or just over € 1.5 billion.

The finalization of this transaction comes after the signing of a contract concluded on December 23 and validated by the Board of Directors of France Telecom on January 10, 2012.

Orange Switzerland will continue to pay a royalty to France Telecom-Orange as long as it uses the Orange brand in Switzerland.

As a reminder, a few weeks ago, Orange also initiated the sales process Orange Austria, this time with Hutchison.