France Telecom – Orange sells Orange Austria to Hutchinson

by bold-lichterman

France Telecom-Orange has signed an agreement with its partner Mid Europa Partners (“MEP”) for the sale of their joint 100% stake in Orange Austria to Hutchison 3G Austria, a subsidiary of Hutchison Whampoa Limited.

A new episode in the asset portfolio optimization strategy launched by the French group in May 2011 and recently marked by the sale of Orange Switzerland. This transaction, which should be completed in mid-2012, values ​​Orange Austria at around 1.3 billion euros and should allow France Telecom-Orange to receive nearly 70 million euros for the sale of its stake (35 %).