France Telecom has bought a majority stake in Swiss mobile phone company Orange Communications for E1.113bn (£668m).
By Suzanna Kerridge, 9 November 2000 12:31
NEWS The French telco increased its stake from 42.5 per cent to 85 per cent after purchasing the shareholding from German utility group E.on. In a statement, France Telecom said it expected the deal to be complete before the start of the Swiss UMTS licence auction in which Orange Communications intends to take part. Orange Communications, the second largest mobile phone company in Switzerland, currently has 754,000 subscribers.
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