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Altice gets Orange Dominican unit for US$1.44B

Santo Domingo.- Altice, the Luxembourg-based multinational telecom on Wednesday confirmed it acquired a 100% stake in Orange’s Dominican Republic unit for US$1.44 billion.

This agreement includes the continued use of the brand Orange, which provides phone service to 3.4 million local customers.

The transaction, subject to approval by Dominican Republic authorities, will reportedly be presented to the Orange group around December 9, Altice said on its website.

Altice is also near closing a deal with León Jimenes, one of the country’s most dynamic business groups, to partner in Dominican Republic telecom investments, including Orange Dominicana and Tricom.

Altice’s acquisition of Orange Dominicana comes after it announced the purchase of Tricom’s cable business on October 31, as part of its strategy to combine fixed and mobile assets to offer quadruple play services for around 4.0 million Dominican subscribers, making it the telecom with the highest number of customers, followed by Claro, a local unit of America Movil.

Source: DT

Category: DR News |

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Last updated December 6, 2016 at 12:34 PM
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