June 4, 2020 / 8:38 AM / a month ago

Orange does not plan any counter bid for Spain's MasMovil

MADRID, June 4 (Reuters) - French telecom giant Orange said on Thursday it doesn’t plan to make a rival bid for Spanish telecom operator MasMovil after three buyout funds made a 3 billion euro ($3.36 billion) offer on Monday. “Orange is not contemplating a counter-offer for MasMovil group. Orange has a privileged position in the telco sector in Spain and has the support of the Orange group to continue growing organically in the country,” the company said in an emailed statement. ($1 = 0.8930 euros) (Reporting by Inti Landauro; Editing by Nathan Allen)

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