Monday, July 25, 2005

FT Acquires 80% of Spain's Amena for EUR 6.4 Billion

France Telecom's Orange subsidiary agreed to acquire an 80% equity stake in Auna Operadora de Telecommunicaciones S.A., the third largest mobile operator in Spain (trade name Amena), for EUR 6.4 billion. France Telecom, which currently ranks as the second largest DSL operator in Spain (the Wanadoo brand), said the acquisition would position it as a first tier competitor in Spain. Amena currently has 9.7 million mobile customers, representing a 24% market share. France Telecom serves 526,000 ADSL lines in Spain, representing 16% market share. The balance (between 20%-25%) of the shares will be held by Santander, Union Fenosa and Endesa as well as by the minority shareholders wishing to keep their participation among which certain Spanish savings banks. The deal would close after the separation of Auna's cable and mobile assets.

France Telecom sees the acquisition as a major step in the roll-out of its NExT strategy: the ability to offer convergent broadband and mobile services in another key European market with close to 10 million additional customers.


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