Orange has confirmed that it will sell its Dominican operation to Luxembourgian cable and telecoms private equity firm Altice.
The deal was struck for €1.1 billion, satisfying the hopes of Orange CEO Stephane Richard that the Dominican unit would sell for over €1 billion.
Orange Dominicana is the Republic’s second-largest operator after America Movil subsidiary Claro. At the end of Q3 2013 it had 3.4 million subscribers, trailing Claro’s 4.6 million, while its 2012 revenues were around €451 million.
Altice is largely active in Europe and the Indian Ocean, with various cable, data centre, internet and mobile operations. The firm saw off some high-profile competition for the unit, including Cable & Wireless and Digicel, both of which have an established presence in the Caribbean.
The deal is subject to approval from the Dominican Republic authorities.
