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Mid Europa, France Telecom mull €1.4bn exit for Orange Austria

24 Nov 2011

Mid Europa Partners and European telecommunications giant France Telecom have received a €1.4bn offer for Orange Austria, the country’s third largest mobile phone operator by market share.

According to news reports, the offer was tabled by Hutchison Whampoa, the Hong Kong-based property development and infrastructure conglomerate.

Mid Europa bought a 65 per cent stake in Orange Austria in 2007. France Telecom, Orange’s parent company, owns the remaining 35 per cent stake. The business has around 2.2 million subscribers. Financial terms of the deal were not disclosed.

Earlier this month France Télécom-Orange announced plans to launch a €300m venture capital fund to finance and develop entrepreneurs in the digital economy, particularly in France and the European Union.

France Télécom-Orange and Publicis Groupe are committed to jointly investing €150m in the new fund. In addition to their respective commitments, the two sponsors intend to invite other investors to join them to reach a target of €300m.

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