FT confirms sale Orange sale rumours, but says no decision yet

8 Jun 2007

In the wake of growing press rumours France Télécom (FT) yesterday confirmed it was mulling plans to offload its Dutch mobile unit, Orange Netherlands, to Deutsche Telekom, but added that no concrete agreement had yet been taken. ‘We confirm that Orange Netherlands has asked its works council to give its opinion on the possible sale of Orange Netherlands to Deutsche Telekom,’ writes Reuters citing a spokeswoman for FT. ‘However, no decision has been taken yet,’ she added.

It is understood that DT will pay around EUR1.3 billion (USD1.76 billion) for the Orange-controlled mobile operator, although FT must consult with workers’ councils in the Netherlands prior to a formal deal being announced. FT declined to comment on the amount.

Netherlands, Deutsche Telekom (DT), Orange Group, Orange Netherlands