December 18, 2014 / 10:49 AM / 3 years ago

Telecoms tycoon Niel to buy Orange Switzerland for $2.9 billion

PARIS (Reuters) - Telecoms tycoon Xavier Niel’s NJJ Capital has agreed to buy Swiss mobile operator Orange Switzerland from private equity group Apax Partners for 2.8 billion Swiss francs ($2.9 billion), Apax said in a statement.

    The deal, struck through his NJJ Capital personal holding company, marks a new turn for Niel.

    He triggered a price war in France through the launch of Free, a bundled telecoms and TV offering, by his 55 percent-owned listed company Iliad (ILD.PA), but he had to abandon in October his attempt to enter the American market when the owners of T-Mobile TMUS.N US rejected his offer.

    Reporting by Andrew Callus; editing by Blaise Robinson

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below