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General

Jazztel's second shareholder to reject Orange offer

Wednesday 17 September 2014 | 10:27 CET | News
The second largest shareholder of Spanish broadband operator Jazztel, UK-based Alken Asset Management, has confirmed it will not sell its 5 percent stake to Orange for the price offered, which it considers insufficient. Orange has offered to buy Jazztel for EUR 13 per share, or around EUR 3.4 billion euros, in a deal that would enable Orange would move ahead of Vodafone into second place in the Spanish fixed broadband market, behind Telefonica's Movistar brand. However, Orange's takeover is still subject to regulatory approval and at least 50.01 percent of Jazztel's shareholders giving the

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Categories: General
Companies: Jazztel / Orange / Orange Spain
Countries: Spain
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