The Orange Group will sell 100% of Orange Dominicana S.A., its subsidiary in the Dominican Republic, to Altice for US$1.435 billion (EUR 1.1 billion).
Orange Dominicana was established in 2000 and is now a leading telecommunication operator in the Dominican Republic, one of the largest and most dynamic economies in the Caribbean with an estimated population over 10 million. The company posted revenues of DOP 22.8 billion (EUR 451 million) in 2012 and had 3.4 million subscribers at the end of September 2013. The company employs approximately 1,400 people.
Altice is a multinational cable and telecommunications company with presence in six countries—Israel, Belgium, Luxembourg, the French Overseas Territories of Guadeloupe and Martinique, Portugal and Switzerland.
The deal requires regulatory approval in the Dominican Republic.
Orange said this sale represents a significant step forward in the optimization of its assets portfolio.
