By Christopher Bjork
MADRID--French telecommunications operator Orange SA (ORA.FR)
has a long-term objective of keeping a listed unit in Spain, its
second-largest market, its director in charge of European
operations said Wednesday.
Orange has invested over 15 billion euros ($16.3 billion) in
Spain, and has made a EUR3.4 billion tender offer to take over
local operator Jazztel PLC (JAZ.MC).
Gervais Pellissier, who is also deputy chief executive of
Orange, said at a news conference in Madrid that the company would
keep Jazztel listed if it fails to get at least 90% acceptance for
the offer.
If acceptance levels are higher, it may delist Jazztel, but it
would later seek to relist the combined Spanish operations, he
said. Orange already has listed units in Belgium, Poland and
Senegal.
Write to Christopher Bjork at christopher.bjork@wsj.com
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