Street Calls of the Week
Investing.com -- French telecom operator Orange (EPA:ORAN) has increased its offer for the 50% stake it does not already own in MasOrange to 4.8 billion euros ($5.6 billion), according to Spanish news website El Confidencial.
The new bid, reported on Thursday, represents a 20% increase from the 4 billion euros Orange initially offered in July for the stake, which is jointly owned by private equity firms KKR (NYSE:KKR), Cinven and Providence.
Including debt, the total value of the deal amounts to 10 billion euros, El Confidencial reported, citing unidentified market sources.
Orange currently owns 50% of MasOrange and is seeking to acquire the remaining half from the three private equity funds.
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