Movement on the Austrian mobile communications market: Mid Europa Partners and France Telecom sell Orange Austria to Hutchison ("Drei")
The recent sale of the Orange Austria group to Hutchison 3G Holdings Austria GmbH (Hutchison Austria), a subsidiary of Hutchison Whampoa Limited, Hongkong, has kept several leading law firms busy for weeks. Parallel to the main transaction, the parties negotiated and concluded the sale of Orange Austria's MVNO subsidiary Yesss! Telekommunikation GmbH (Yesss!), together with base stations, frequencies and certain IP rights, to Telekom Austria Group (TA).
The deal is valued at approximately EUR 1.3 billion for Orange Austria group before the sale of Yesss! and the mentioned assets to TA. The sale of Yesss! and other assets to Telekom Austria is valued at EUR 390 million.
Completion of the transaction, expected in mid-2012, is subject to approval by the relevant regulatory and competition authorities.
Mid Europa Partners LLP (MEP), Orange Austria’s majority owner, was advised by Allen & Overy partners Philipp Wahl (M&A), Richard Cranfield (M&A) and Antonio Bavasso (Competition). DORDA BRUGGER JORDIS partners Stephan Polster (Competition, Regulatory), Martin Brodey (M&A) and Michael Riegler (Corporate/M&A) were Austrian Counsel to MEP.