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Monday, 25 June 2007 |
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Fruit-based Frenchies go ‘all-for-One’ in the Austrian market with PEI bedfellows.
A blow for state-subsidised socialism has seen France Telecom, via its wireless/consumer arm ‘Orange’, dig its claws into the Austrian tri-ply market with the takeover of One. Surprisingly, it is working with Mid Europe Partners, a second-ranked private equity combo.
FT is unrepentant: “The consortium formed by France Telecom and Mid Europa Partners announced that it has been selected to acquire a 100% stake in One GmbH. The final acquisition document will be signed by the end of June 2007 at the latest. Moreover, the completion of the transaction is subject to the authorisation of the regulatory authorities which is likely to be obtained in the coming weeks.”
“This partnership constitutes a new approach of cooperation between an operator and a private equity fund which allows to combine the operational expertise of a leading telecom operator and the recognized know-how of a private equity fund strongly active in this sector and this region”, it says.
Cough, cough; splutter, splutter. Do the French have a word for ‘private equity’? No less an expert than GW Bush suggested there was no word in French for ‘entrepreneur'. And he is nearly always right, isn’t he?
Jim Chalmers
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