Hutchison 3G Austria buys Orange Austria for $1.7 billionStaff writer ▼ |
Hutchison bought Orange from its previous owners Mid Europa Partners and France Telecom-Orange. With this acquisition, Hutchison 3G Austria has become the third largest mobile operator in Austria. H3G is now a stronger market player, able to challenge the established mobile operators even more intensively than it has until now. In doing so, it will ensure that Austrian consumers continue to benefit from the best value for money in the market.
As part of the overall transaction, some frequencies, base stations and the mobile phone provider Yesss!, as well as certain other intellectual property of Orange Austria will be sold to Telekom Austria.
"We are delighted that, after undergoing a lengthy regulatory process, we have finally been able to close this acquisition. We can now get down to focusing all our efforts on playing a leading role in developing the future of the Austrian mobile market. I am particularly looking forward to working, with the combined talents and commitment of both existing and new colleagues in the company, to push forward with building a nationwide LTE network in Austria within the next two years," said 3 CEO Jan Trionow.
Hutchison 3G Austria started business in May 2003 under the 3 brand as the only purely UMTS network operator in Austria. With 94% UMTS coverage the 3MegaNetwork is Austria's largest UMTS network and covers 99% of the Austrian population with basic services. ■