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General

CNMV allows Orange to lower threshold for Jazztel takeover

Friday 17 October 2014 | 09:57 CET | News
Orange has lowered the threshold of shareholder backing it requires for the acceptance of its EUR 3.4 billion offer to acquire Spanish broadband operator Jazztel. In a statement to Spain's market regulator CNMV, the French operator confirmed the deal is conditional on receiving the backing of 51.398 percent of shareholders as opposed to the 57 percent threshold it had originally set. Although Jazztel operates in Spain, the company is owned by a British company called Jazztel plc and is incorporated under the laws of England and Wales. As such, Orange's bid is also subject to the UK Takeover

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Categories: General
Companies: Jazztel / Orange
Countries: St. Bart's
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