Deals
Orange Joins Phone Industry’s Big Infrastructure Sell-Off
- Carrier to create separate companies for 40,000 mobile towers
- Shares fall as analysts see only slow impact on profits
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Orange SA will seek to extract greater value from its telecom infrastructure, joining rivals in selling stakes in mobile-phone towers and fiber-optic networks.
In a first step, France’s largest phone carrier is selling 1,500 mobile towers in Spain to Cellnex Telecom SA for 260 million euros ($288 million), it said Wednesday in a statement unveiling a five-year strategic plan.