×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Switzerland | competition watchdog | examine | planned | merger | France Telecom | Orange

Swiss Watchdog to Examine Orange, Sunrise Deal

Tuesday, 29 December 2009 08:05 AM

Switzerland's competition watchdog will examine closely the planned merger between France Telecom's Orange and Danish-owned Sunrise to ensure the grouping does not dominate the Swiss mobile market.

Along with Swisscom, Sunrise and Orange are the main players in Switzerland's mobile phone market.

The planned merger, with a market share of 40 percent, would reduce the number of competitors to two from three, the watchdog, ComCo, said on Monday.

"There are signs the planned merger could lead to or increase a market dominant position in various areas of mobile telecommunications," ComCo said, adding that it would conclude its examination within four months.

France Telecom announced in late November it would pay 1.5 billion euros ($2.15 billion) for a 75 percent stake in a new company with the assets and clients of Sunrise, owned by Denmark's TDC, and Orange.

The deal, which is expected to close in May 2010, comes as European telecom operators are seeking ways to cut costs and improve profitability in mature markets with few growth prospects.

One solution for telecom groups is to buy out rivals to reduce competition in markets.

TDC is 88-percent owned by private equity firms Apax Partners, the Blackstone Group, Kohlberg Kravis Roberts, Permira Advisers and Providence Equity.

© 2022 Thomson/Reuters. All rights reserved.


Headline
Switzerland's competition watchdog will examine closely the planned merger between France Telecom's Orange and Danish-owned Sunrise to ensure the grouping does not dominate the Swiss mobile market. Along with Swisscom, Sunrise and Orange are the main players in...
Switzerland,competition watchdog,examine,planned,merger,France Telecom,Orange,Danish-owned,Sunrise,Swiss,mobile market
204
2009-05-29
Tuesday, 29 December 2009 08:05 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved