France Telecom, TDC Merge Swiss Units In $2.3B Deal

Law360, New York (November 25, 2009, 5:29 PM EST) -- France Telecom and Dutch telecommunications provider TDC have struck a €1.5 billion ($2.3 billion) deal to merge their subsidiaries in Switzerland, which the companies say will create the leading alternative telecom operator in the nation.

France Telecom will pay TDC a net total of €1.5 billion to become a 75 percent shareholder in the combined entity formed from France Telecom’s Orange Communication SA and TDC’s Sunrise Communications SA, while TDC will hold the remaining 25 percent, the companies announced on Wednesday.

The new entity will have...
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