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Orange strikes 3.4 billion euros deal to buy Spain’s Jazztel

16
Sep
2014

By Leila Abboud and Julien Toyer PARIS/MADRID (Reuters) – Frances Orange has reached a deal to buy Spanish fixed line telecoms operator Jazztel in an effort to bolster its mobile operation in the country and better compete with rivals Telefonica and Vodafone. The French group made an offer for 100 percent of Jazztel shares at 13 euros per share in cash, which values Jazztel at 3.4 billion euros($4.40 billion). The acquisition will be financed through a combination of hybrid bonds and a capital increase of up to 2 billion euros at Orange. …

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