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Investing.com -- Orange has submitted a tentative offer to buy the remaining 50% stake in Spanish telecommunications operator MasOrange from private equity firms Cinven, KKR and Providence, according to a report by news website El Confidencial.
The French telecom company, which already owns 50% of MasOrange, made an offer that excludes debt, bringing the total valuation of the deal to over €10 billion, El Confidencial reported, citing unidentified people familiar with the matter.
The three private equity firms are seeking a valuation of €4.8 billion to €4.9 billion for their combined stake in the Spanish telecom operator, the website said.
If completed, the acquisition would give Orange full ownership of MasOrange, strengthening its position in the Spanish telecommunications market.
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