Orange in talks to sell Dominican Republic subsidiary
Orange is in talks to sell off its telecoms network in the Dominican Republic for over €1 billion to telecoms and media private equity group Altice.
Altice, based in Luxembourg, recently acquired a large stake in Numericable in France and is progressing with talks to acquire Orange’s Caribbean business in an auction, according to the Financial Times.
Orange Dominicana serves a small population of approximately 12 million, but reportedly generates a lot of roaming revenue from tourists and the business community.
Reports suggest that Digicel and UK-based Cable & Wireless Communications have also expressed an interest in acquiring the group.
Both groups compete directly in many parts of the region, but have reportedly not made a bid for Orange Dominicana at this stage.
The group has an enterprise value of over €1 billion, but the deal with Altice is still at an early stage.
According to Stéphane Richard, CEO at Orange, a sale in the Dominican Republic reflects “very attractive conditions, well above what was expected”.