FRANCE TELECOM : FRANCE TELECOM:-Orange disposes its shareholding in Sonaecom,
a Portuguese telecommunications operator, to Sonae
Paris, 15 February 2013
France Telecom-Orange disposes its shareholding in Sonaecom, a Portuguese
telecommunications operator, to Sonae
Sonae and France Telecom-Orange have entered into a put and call option
agreement on 15 February 2013 that will allow France Telecom to divest its
entire 20% stake in the Portuguese telecommunications operator, Sonaecom.
Sonae, which currently holds a 53.17% stake, is already the majority
shareholder of Sonaecom.
The call is exercisable by Sonae over the next 18 months and the put will be
exercisable by France Telecom during the 3 months following this initial
period. They are both exercisable at the same price of 98.9 million euros. The
price could be increased to 113.5 million euros if Sonaecom participates in a
material transaction (involving Sonaecom or its material assets) that
consolidates or restructures the Portuguese telecommunications sector in the
24 months following the signature of the agreement.
This agreement is subject to the confirmation of the Portuguese Securities
Commission (CMVM) that no concerted exercise of influence results from this
This agreement secures France Telecom-Orange's stated objective of disposing
of its minority shareholding in Portugal under terms that allow the Group to
benefit from the potential consolidation of the Portuguese telecommunications
France Telecom-Orange is one of the world's leading telecommunications
operators with sales of 45.3 billion euros for 2011 and has 170,000 employees
worldwide at 30 September 2012, including 105,000 employees in France. Present
in 33 countries, the Group has a total customer base of 227 million customers
at 30 September 2012, including 169 million mobile customers and 15 million
broadband internet (ADSL, fibre) customers worldwide. Orange is one of the
main European operators for mobile and broadband internet services and, under
the brand Orange Business Services, is one of the world leaders in providing
telecommunication services to multinational companies.
With its industrial project, "conquests 2015", Orange is simultaneously
addressing its employees, customers and shareholders, as well as the society
in which the company operates, through a concrete set of action plans. These
commitments are expressed through a new vision of human resources for
employees; through the deployment of a network infrastructure upon which the
Group will build its future growth; through the Group's ambition to offer a
superior customer experience thanks in particular to improved quality of
service; and through the acceleration of international development.
France Telecom (NYSE:FTE) is listed on NYSE Euronext Paris (compartment A) and
on the New York Stock Exchange.
For more information (on the internet and on your mobile): www.orange.com,
www.orange-business.com, www.orange-innovation.tv or to follow us on Twitter:
Orange and any other Orange product or service names included in this material
are trade marks of Orange Brand Services Limited, Orange France or France
Press contacts: +33 1 44 44 93 93
Tom Wright, firstname.lastname@example.org
Olivier Emberger, email@example.com
France Telecom Orange disposes its shareholding in Sonaecom to Sonae
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Source: FRANCE TELECOM via Thomson Reuters ONE
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