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Free owner Niel to buy Orange Switzerland for CHF 2.8 bln

Thursday 18 December 2014 | 13:01 CET | News
The private equity funds Apax Partners announced an agreement to sell Orange Switzerland to NJJ Capital for CHF 2.8 billion (EUR 2.3 billion). NJJ Capital is the holding company of Xavier Niel, the founder and controlling shareholder of French operator Free. The transaction is subject to customary regulatory approval and is expected to be completed by the end of Q1 2015. Apax said it expects to generate a strong return on the investment, acquired in 2012 from French group Orange. Over the last three years, it has successfully modernised the mobile operator's IT systems, launched 4G commercial

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Categories: Mobile & Wireless
Companies: Apax / Free / Salt Mobile
Countries: Switzerland
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