Orange: launch of Spanish joint venture
(CercleFinance.com) - Orange and Masmovil announce the official creation of the 50/50 joint venture combining their activities in Spain, bringing substantial benefits to Spanish consumers and businesses.
This new company will represent estimated sales of over E7.4bn and EBITDAaL of over E2.3bn. It is expected to generate synergies of over E490m per year four years after completion. Jean-François Fallacher, CEO of Orange France and former CEO of Orange Spain from 2020 to 2023, has been appointed non-executive Chairman of the joint venture, and Meinrad Spenger, CEO of Masmovil since 2006, has been appointed Managing Director. Copyright (c) 2024 CercleFinance.com. All rights reserved. |
26/04/2024 17:39
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