Nov 24 France's largest telecom operator Orange
SA is close to reaching an agreement with Altice on
the sale of its Dominican Republic business, Bloomberg reported
on Sunday citing three people familiar with the matter.
Bloomberg, citing one of the sources, reported that an
agreement could be announced as soon as this week.
A spokeswoman for Orange said the company does not comment
Altice, a Luxembourg-based cable and telecommunications
company, could not immediately be reached for a comment outside
regular business hours.
The sale of the unit would be at a price "significantly
over" 1 billion euros ($1.35 billion), Orange's Chief Executive
Stephane Richard on Friday said at a Morgan Stanley investor
conference in Barcelona.
Sale of Orange Dominicana, which provides mobile telephone
and Internet services to retail and business customers in the
Dominican Republic, would increase financial flexibility for the
parent company as it looks to cut debt.
Orange Dominicana had 2012 revenue of 451 million euros and
its subscriber base grew 5.4 percent in the first quarter of
2013, which was faster than in 2012.