FT lifts Spanish stake to 99.85%

6 May 2009

France Telecom (FT) has announced that it has agreed a deal to snap up an additional 18.25% in France Telecom Espana, which operates under the Orange banner. The stake, valued at EUR1.4 billion (USD1.8 billion), will be acquired from financial services providers Banco Santander, Unicaja, Caja de Ahorros del Mediterraneo, Credit Suisse Group and Deutsche Bank. Following the purchase, FT’s stake in its Spanish subsidiary will increase from 81.6% to 99.85%.

Spain, Orange Espana (incl. Jazztel), Orange Group