Orange to acquire Millicom’s subsidiary in the Democratic Republic of the Congo (“DRC”)
Today, Orange and Millicom signed an agreement leading to Orange’s acquisition of Millicom’s operations in the DRC (“Tigo DRC”).
The mobile market in the DRC is undergoing significant growth and is currently the largest mobile market in Central and West Africa after Nigeria with more than 40 million subscribers. Tigo DRC is a perfect fit for Orange given the complementarity of their operations both from a geographical and cultural standpoint.
Through this deal, Orange would reinforce significantly its presence in the DRC, hence becoming one of the leading mobile operators in the country and will create positive synergies.
This acquisition underlines Orange’s strategy in Africa which aims at developing and maintaining leading competitive positions across its various countries of operations on the continent.
The Transaction is subject to obtaining approvals from the competent authorities.
Orange is one of the world’s leading telecommunications operators with sales of 40 billion euros in 2015 and 154,000 employees worldwide at 30 September 2016, including 95,000 employees in France. Present in 29 countries, the Group has a total customer base of 256 million customers worldwide at 30 September 2016, including 194 million mobile customers and 18 million fixed broadband customers. Orange is also a leading provider of global IT and telecommunication services to multinational companies, under the brand Orange Business Services. In March 2015, the Group presented its new strategic plan “Essentials2020” which places customer experience at the heart of its strategy with the aim of allowing them to benefit fully from the digital universe and the power of its new generation networks.
Orange is listed on Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN).
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