Mobile Firm Orange Sells Operations in Dominican Republic For $1.4 Billion
By the Caribbean Journal staff
France-based telecom firm Orange has reached a deal to sell its operations in the Dominican Republic to Altice for $1.4 billion, the sides announced.
The deal, which must still be approved by authorities in the Dominican Republic, included a provision for the continued use of the Orange brand by Orange Dominicana “within a defined framework.”
Altice already offers mobile, television and broadband services in the French departments of Martinique, Guadeloupe and French Guyana.
“We are very pleased with the acquisition of Orange Dominicana, which is demonstrating strong growth and provides for both a state-of-the art mobile communications network and a high quality management team — a perfect fit with our strategic vision to offer high quality quadruple-play services to our subscribers,” said Dexter Goei, CEO of Alltice. “Combined with our acquisition of Tricom, this is another great example of our strategy of in-market and regional consolidation.”
Orange established Orange Dominicana in 2000; it has since become one of the leading mobile carriers in the Dominican Republic, with around 3.4 million subscribers.
Altice, which is based in Luxembourg, said it was working to finalize an agreement with Grupo Leon Jimenes, a business group based in the Dominican Republic, to join as local partners on its telecom investments in the country.