France Télécom’s mobile arm Orange says it will invest USD80 million over the next five years in its Moldovan wireless venture Voxtel. The investment was announced yesterday by Brigitte Bourgoin, executive vice president of Orange, at a meeting with Moldova’s President Vladimir Voronin. Voxtel shareholders voted in April this year to adopt the Orange brand name, although no timetable for the change has been given.
Voxtel had 689,700 subscribers at the end of March 2006, ahead of rival cellco Moldcell with 444,300. Voxtel is 61% owned by Orange, which upped its stake from 53% in February 2006, buying an additional holding from Moldtelecom. Voxtel’s other shareholders are Moldovian Mobile Telephone Bis (30%), IFC (5%) and MobilRom (4%).