France Telecom significantly increases its share in Orange Romania

From Wikinews, the free news source you can write!

Friday, April 15, 2005

France Telecom announced yesterday that it would increase its indirect participation in Orange Romania to 96.63%. This is because it acquired over 23% of the mobile phone operator from a group of investors led by the AIG New Europe Fund. The investors include the Polish Enterprise Fund LP and Polish Enterprise Fund IV LP, Innova/98 LP, Communications Venture Partners, BancBoston Capital, Societe Generale Romania Fund and Alcatel NV. Before the share increase, Orange Romania was owned 51% by France Telecom's subsidiary Orange, 22.6% by Wirefree Services Belgium and the rest by several smaller investors.

Orange Romania is currently Romania's largest mobile phone operator, with 48% market share and over 5 million subscribers. Between 2003 and 2004, it registered an increase in turnover of 47%, with total turnover in 2004 being 624 million euro.

References

• "France Telecom takes full control of Orange Romania". Bucharest Daily News, April 15, 2005

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