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France Telecom/Orange announces the sale of Orange Denmark for €600mn |
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Saturday, 10 July 2004 |
08 July, 2004:
France Telecom/Orange announced today that it has reached an agreement
with TeliaSonera, one of the leading Scandinavian mobile operators, for
the sale of Orange Denmark, a 100% subsidiary of Orange SA, for an
enterprise value of €600mn. The proceeds will be payable in cash upon
closing of the transaction.
The
closing of the transaction is expected to take place as soon as all
necessary authorizations are obtained, in particular legal and
governmental authorizations. The closing is expected to occur before
the end of October 2004.
This
transaction has been approved by the Orange Board of Directors and the
Strategic Committee of the France Telecom Board of Directors issued a
favourable opinion regarding this transaction. This transaction will be
submitted for approval by the next France Telecom Board of Directors.
www.francetelecom.com
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Newsdesk 
