Orange offers 4 billion euros for remaining 50% of Spanish unit: Report
Orange
has offered to buy the 50% it does not own in its Spanish unit
MasOrange
for 4 billion euros ($4.68 billion), Spanish news website El Confidencial reported on Tuesday, citing unidentified sources.
The offer for the stake that is jointly owned by private equity funds
KKR
,
Cinven
and Providence is not binding, El Confidencial said.
Orange's fully owned Spanish unit last year merged with rival
MasMovil
, which was owned by the three funds.
Orange, MasOrange, KKR and Providence declined to comment, while a spokesperson for Cinven did not immediately respond to a request for comment.
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