Orange ready to exit Dominican Republic for €1,000 million
Juan Fernandez Gonzalez | 26-11-2013
Orange is ready to sell its Dominican Republic's subsidiary, according to EFE, in a deal that CEO Stephane Richard says is worth around €1,000 million.
The telco will use the cash to consolidate its position in other telecoms markets. Richard has admitted that the French company is looking forward to increasing its role in the European market, which is why it may be interested in using the money to buy operators in Spain, Poland, Belgium and Romania.
Orange started the tender process in the summer in a move that surprised the industry. The size of the operation has meant that only the larger groups have shown interest in buying the Dominican subsidiary.
According to EFE, Cable & Wireless, Digicel from Jamaica and the national group León Jiménes are among the interested companies.
Orange Dominicana has a healthy position in the country's market, with 3.3 million subscribers in Q3, having grown 6.3% compared to last year.
The subsidiary is the only business the French group owns in Latin America, being more focused on European markets.
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