Hutchison to buy mobile operator Orange Austria

Hutchison 3G continues to grow its European mobile phone business with its acquisition of Austria’s third biggest mobile firm from France Telecom and Mid-Europa Partners.

Hutchison to buy mobile operator Orange Austria
Hutchison targets Austria as low valuations and tough competition squeeze France Telecom out

Hutchison 3 Austria will buy Orange Austria in a deal valued at 1.3 billion $1.7 billion, according to a statement by Hutchison Whampoa, the mobile phone unit’s Hong Kong parent, on Friday.

The purchase includes debt, and 3 Austria will sell assets worth 390 million to Telekom Austria’s A1, the country’s leading mobile company. Hutchison expects to complete the acquisition of Orange from France Telecom and equity-fund Mid-Europa Partners which own 35% and 65%...

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