France Telecom has signed an agreement with all the minority shareholders in Orange Slovakia to acquire their shares

October 20, 2005

1 Min Read

PARIS -- France Telecom announced today the signature of an agreement with all the minority shareholders in Orange Slovakia to acquire their shares for a total cash consideration of US$ 628 million, to be paid before the end of this year. Following the transaction, France Telecom will increase its indirect stake in Orange Slovakia from its current level of 63,88 % to 100 %. This transaction will have no impact on the Group net debt.

This transaction enables France Telecom and Orange to consolidate their position in one of their key assets in Europe with high growth prospects. With more than 2.3 million customers, ie 57% of market share, revenue growth of 20% between 2003 and 2004 (EUR420 million in 2004) Orange Slovakia is the leading mobile operator in Slovakia.

Sellers include a consortium of financial investors led by AIG New Europe Fund, managed by an affiliate of AIG Capital Partners, AIG Emerging Europe Infrastructure Fund, managed by EMP Europe, Polish Enterprise Fund IV L.P., managed by Enterprise Investors, Innova/98 L.P. and Innova/3 L.P., managed by Innova Capital, Communications Venture Partners, Part'com FCPR, managed by Iris Capital, Metropolitan Life Insurance Company and the European Bank for Reconstruction and Development and Mr Ladislav Rehak.

France Telecom SA

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