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As part of the strategy to optimize its asset portfolio, France Telecom is selling its Swiss unit, Orange Switzerland, to Apax Partners for 2 billion CHF ($2.14 billion), which corresponds to a multiple of 6.5x of the company’s estimated 2011 EBITDA.
The transaction is still a subject to the approval of the Swiss authorities and will be submitted to the France Telecom’s Board of Directors for approval during the week commencing on January 9, 2012.
Orange Switzerland was established in 1999 and has posted revenue of 1.3 billion CHF (1.1 billion EUR) in 2010. It had 1.6 million customers at the end of September 2011, and employs some 1,200 people.
Now I expect that 2012 be an even bigger year for mobile market consolidation in Europe with smaller players being acquired by their bigger rivals all around the continent. Needless to say, we’ll be there to cover it all…
[Via: CellularNews]
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
