Orange to acquire Millicom’s subsidiary in the Democratic Republic of the Congo (“DRC”)
This acquisition underlines Orange’s strategy in Africa
PARIS, France, February 8, 2016 – Today, Orange (www.Orange.com) 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 listed on Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN).