Hutchison Whampoa boosts European holdings with €1.3B Orange Austria buy
FierceWireless Feb 03 12
Hong Kong-based Hutchison Whampoa is expanding its European footprint with the purchase of Orange Austria for €1.3 billion.
The deal, which is expected to be completed by mid-2012, will see Hutchison 3G Austria become the third largest operator in the country after Telekom Austria's A1 and Deutsche Telekom's T-Mobile Austria.
The merging of 3G Austria with Orange Austria will create an operator with nearly three million subscribers and around 20 per cent of the total market, noted Reuters, adding that Hutchison was expecting to generate expense and Capex synergies of at least €500 million once the integration take effect. Full story...
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