We told you consolidation is coming to Austria, and voila – the local branch of Hutchison Three has finally (started) acquiring Orange Austria, having agreed to pay 1.3 billion EUR to France Telecom which owns 35% stake and private equity investors Mid Europa Partners (65%).
As part of the deal, Hutchison will sell frequencies, base station sites, the mobile phone operator Yesss! Telekommunikation along with certain intellectual property rights to Telekom Austria Group, immediately after the acquisition is completed.
As usual, the transaction is a subject to the approval by regulatory and anti-trust authorities, with completion expected to take place in mid 2012.
Orange Austria had estimated 2011 revenues of about 500 million EUR and a total customer base of 2.3 million at the end of last year. The company employs almost 800 people…