Investment fund Altice has agreed to acquire Orange’s Dominican Republic unit for around USD 1.4 billion (approximately EUR 1.1 billion). The agreement includes the continued use of the Orange brand by Orange Dominicana within a defined framework. The transaction, which is subject to the approval of the Dominican authorities, will be submitted by Orange Dominicana to the Orange board of directors during the week commencing 9 December. Altice also plans to soon finalize an agreement with Dominican Republic business group Grupo Leon Jimenes to join as local partners on its telecom investments in the Dominican Republic, including Orange Dominicana and Tricom.
The acquisition of Orange Dominicana, following the October acquisition of cable operator Tricom, is in line with Altice's strategy of combining both fixed and mobile assets and thus offer quadruple-play telecoms services. With Orange Dominicana and Tricom having a combined total subscriber base of approximately 4.0 million, Altice seeks to accelerate the upgrade and deployment of nationwide network which can provide TV, broadband and telephony services over both fixed and mobile networks.
