FT completes sale of Swiss arm

2 Mar 2012

France Telecom (FT) has completed the sale of its Swiss operating arm Orange Switzerland to Matterhorn Mobile, a company indirectly owned by private equity firm Apax Partners. Based on the agreed price of CHF2 billion (USD2.21 billion), after the deduction of external net debt of the company, which includes upcoming payment for spectrum recently acquired by Orange Switzerland, the net proceeds to FT for the sale is CHF1.83 billion. Whilst Orange Switzerland bears the ‘Orange’ moniker, it will pay brand fees to FT.

According to TeleGeography’s GlobalComms Database, at the end of December 2011 Orange Switzerland had 1.614 million wireless subscribers, of which 729,000 had signed up to 3G services.

Switzerland, Salt (Switzerland)