FRANCE TELECOM : Swiss Competition Authorities Approve Apax Purchase Of Orange
02/17/2012 | 02:09am The Swiss Competition Commission Friday said it has approved U.K. private equity firm Apax Partners' planned acquisition of Orange Switzerland from France Telecom (FTE).
MAIN FACTS:
- The preliminary examination found no evidence that the planned purchase created or strengthened a dominant market position, the commission said.
- "With the purchase of Orange three large network providers remain in the Swiss mobile telephone market, which keeps certain competitive dynamics and the market open for further innovation," the Competition Commission said.
- "That's why the Competition Commission after a preliminary investigation concluded that the acquisition of Orange by Apax does not require in-depth examination and the sale of Orange is not hazardous to competition law," it added.
- In 2010 the regulator had blocked a proposed merger between Orange Switzerland and Sunrise, another mobile phone operator in Switzerland owned by CVC Capital Partners, due to competition concerns.
-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47; zurichdjnews@dowjones.com
