France Telecom significantly increases its share in Orange Romania
Friday, April 15, 2005
France Telecom announced yesterday that it would increase its indirect participation in Orange Romania to 96.63%. This is because it acquired over 23% of the mobile phone operator from a group of investors led by the AIG New Europe Fund. The investors include the Polish Enterprise Fund LP and Polish Enterprise Fund IV LP, Innova/98 LP, Communications Venture Partners, BancBoston Capital, Societe Generale Romania Fund and Alcatel NV. Before the share increase, Orange Romania was owned 51% by France Telecom's subsidiary Orange, 22.6% by Wirefree Services Belgium and the rest by several smaller investors.
Orange Romania is currently Romania's largest mobile phone operator, with 48% market share and over 5 million subscribers. Between 2003 and 2004, it registered an increase in turnover of 47%, with total turnover in 2004 being 624 million euro.
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