By Telecom Lead Team: Mobile major
France Telecom-Orange has entered into an agreement with its partner Mid Europa
Partners to sell their combined 100 percent stake in Orange Austria to
Hutchison 3G Austria, a subsidiary of Hutchison Whampoa.
France Telecom-Orange currently
holds a 35 percent stake in Orange Austria and MEP a 65 percent stake.
As per the transaction, Hutchison
will sell frequencies, base station sites, the mobile phone operator Yesss
Telekommunikation as well as certain intellectual property rights to Telekom Austria
Group, immediately after the acquisition of Orange Austria.
The agreement implies an enterprise value of approximately €1.3 billion for
Orange Austria and is expected to provide France Telecom-Orange with cash
proceeds of around €70 million for its equity stake.
Orange Austria is a mobile operator in Austria with estimated 2011 revenues of
approximately €500 million and a total customer base of 2.3 million at the end
of 2011. The company employs almost 800 people.
