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General

Jazztel sets up committee to oversee Orange deal

Monday 20 October 2014 | 10:28 CET | News
Spanish broadband operator Jazztel has set up a working committee to monitor the progress of Orange's EUR 3.4 billion cash offer to acquire 100 percent of its shares. In a statement to Spain's market regulator CNMV, the Spanish operator confirmed that four independent directors would be overseeing the transaction under the financial guidance of Goldman Sachs and JP Morgan. Last week Orange confirmed that the threshold of shareholder backing it requires for the acceptance of its bid had been lowered from 57 percent to 50 percent plus one share.

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Categories: General
Companies: Jazztel / Orange
Countries: Spain
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