French Telecom, Danish TDC merge Swiss branches

11:18, November 26, 2009      

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France Telecom and Danish telecoms operator TDC announced Wednesday to combine respective Swiss subsidiaries to create a leading nationwide alternative operator of telecommunication in Switzerland.

Telecom will pay 1.5 billion euros (2.25 billion U.S. dollars) for 75 percent share in the joint entity, and TDC will hold the rest. The mergence of Orange (Telecom) and Sunrise (TDC) Communication will broaden the current service scale offered through over 100 shops in Switzerland, Telecom said in a statement.

With about 3.4 million mobile and 1.1 million fixed and broadband customer, the new merger will unite around 38 percent of Swiss mobile phone market and 13 percent of the fixed broadband connections to compete with the current market leader Swisscom.

This is latest overseas mergence of France Telecom after a joint venture announced in Britain between Orange and T-Mobile in early September.

As French part hold the majority of the seats in the Board of the combined entity, Thomas Sieber, Chief Executive Officer of Swiss Orange, would be the chief executive of the new joint venture.

Source: Xinhua
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