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Tag: jazztel
EU clears Orange's Jazztel acquisition
2015-05-19 02:00:00| Total Telecom industry news
Orange agrees to facilitate entry of new fixed-line player in a bid to preserve competition.
Tags: acquisition
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jazztel
Orange still expects to complete Jazztel acquisition on schedule
2014-12-05 01:00:00| Total Telecom industry news
European Commission confirms in-depth probe into merger's potential impact on Spanish telco market.
Tags: complete
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Orange confident of closing Jazztel deal in H1 2015
2014-12-04 16:35:00| Telecompaper Headlines
(Telecompaper) Orange has announced that it remains confident of completing its acquisition of Spanish broadband provider Jazztel, even after the European Commission confirmed it would be carrying out an in-depth investigation of the proposed takeover. "The time limit for this new phase of the proceeding is already included in the schedule for the deal," said the French group in a statement, adding that "Orange maintains its ambition to close the operation during the first half of 2015." The company was responding to an earlier statement from the EC's competition authority setting a 24 April deadline to rule on the deal. "The loss of Jazztel as an important competitive force could lead to price increases for these services for customers in Spain," said the Commission. "Both companies are important competitive forces with a stronger influence on the competitive dynamics in these markets than suggested by their market shares." On 16 September Orange offered EUR 3.4 billion in cash to acquire 100 percent of Jazztel's shares, a transaction that would enable the French group to move ahead of Vodafone into second place in the Spanish fixed broadband sector thanks to Jazztel's 1.5 million customers.
Tags: deal
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EU puts Orange's Jazztel deal under microscope
2014-12-03 01:00:00| Total Telecom industry news
European Commission will reportedly announce in-depth probe of Spanish takeover deal later this week.
Tags: deal
puts
microscope
oranges
Orange issues EUR 3 bln hybrid bonds for Jazztel acquisition
2014-09-25 08:56:00| Telecompaper Headlines
(Telecompaper) Orange has announced that it has raised EUR 3 billion towards its proposed acquisition of Spanish broadband operator Jazztel via the hybrid capital market. The company issued the equivalent of EUR 3 billion in hybrid subordinated perpetual bonds on the Euro and Sterling markets. The bonds were issued in three tranches of EUR 1 billion, 1.25 billion and 600 million, offering first call dates of 7, 12 and 8.5 years respectively. Orange said total orders exceeded EUR 11 billion and that the issue allowed it to strengthen its balance sheet at a cost of 4.5 percent, below the average cost of its existing bonds. On 16 September Orange launched an offer to acquire 100 percent of Jazztel shares at EUR 13 per share, valuing the Spanish operator at around EUR 3.4 billion. The deal is subject to regulatory approval as well as to Jazztel shareholders tendering at least half of the stock on top of an almost 15 percent stake held by top executives who have agreed to sell.
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