Orange in talks to sell Dominican Republic subsidiary

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”.

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