Orange said it had completed the sale of its Orange Dominicana subsidiary to telecoms investment player Altice, receiving €1.05 billion in return.
The deal was announced in November 2013, and comes as part of the France-based group’s “asset portfolio optimised strategy”. It has also been suggested it could dispose of businesses in Uganda and Kenya.
Orange Dominicana is the second biggest operator in the Dominican Republic, ending 2013 with 3.4 million connections, behind America Movil’s Claro (4.6 million), according to GSMA Intelligence data.
According to reports at the time, Digicel and Cable & Wireless Communications were beaten off by Altice to secure the Orange deal.
The transaction also comes shortly after Altice became the successful bidder for SFR, the currently Vivendi-owned operator which competes in Orange’s home market of France.
This deal is altogether more pricey, at €13.5 billion in cash with Vivendi also gaining a 20 per cent stake in a combined business made up of SFR and Numbericable – the cable company already owned by Altice.