Orange has signed a binding agreement with Lorca to acquire full ownership of MasOrange, Spain’s leading operator in terms of customer base, through the acquisition of the remaining 50% stake in its Spanish joint venture for a price of 4.25 billion euros in cash. This announcement confirms the non-binding agreement that was previously announced on 31 October
This transaction will accelerate Orange’s strategic plan “Lead the Future” and further strengthen Orange’s position in Spain, the Group’s second-largest market in Europe. With full ownership, Orange confirms its long-term industrial commitment in Spain, and its confidence in MasOrange and its management to create value for all stakeholders.
The closing of the transaction is expected in the first half of 2026, subject to customary regulatory approvals and other closing conditions* recalled on 31 October.
*At closing, MasOrange will be fully consolidated in Orange’s accounts, including certain debt that is expected to be refinanced at or after the closing of the acquisition.
Above, Christel Heydemann, CEO, Orange / image credited to Orange
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