MADRID (Reuters) -French telecom operator Orange has offered to buy the 50% it does not own in its Spanish unit MasOrange for 4 billion euros ($4.68 billion), Spanish news website El Confidencial
Orange Proposes €4 Billion Acquisition for Remaining Stake in MasOrange
Orange's Acquisition Offer for MasOrange
MADRID (Reuters) -French telecom operator Orange has offered to buy the 50% it does not own in its Spanish unit MasOrange for 4 billion euros ($4.68 billion), Spanish news website El Confidencial reported on Tuesday, citing unidentified sources.
Details of the Offer
The offer for the stake that is jointly owned by private equity funds KKR, Cinven and Providence is not binding, El Confidencial said.
Market Context and Implications
Orange's fully owned Spanish unit last year merged with rival MasMovil, which was owned by the three funds.
Orange, MasOrange, KKR and Providence declined to comment, while a spokesperson for Cinven did not immediately respond to a request for comment.
($1 = 0.8548 euros)
(Reporting by Inti Landauro)
