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Stock impact report

Press release: Orange and MASMOVIL complete transaction to form the leading operator in Spain in terms of customers [Yahoo! Finance]

Orange (ORAN) 
Company Research Source: Yahoo! Finance
The 50:50 Joint Venture between Orange Spain and MASMOVIL starts operations from today and will bring substantial benefits to Spanish consumers and enterprises. The Joint Venture is expected to generate synergies of more than 490m euros / year from four years after closing onwards. Jean François Fallacher has been appointed non-executive Chairman of the JV and Meinrad Spenger as its CEO. Orange and MASMOVIL announce today the creation of a new Joint Venture, completing the agreement to combine their operations in Spain . Orange and MASMOVIL's shareholders each own a 50% stake of the JV, with equal governance rights in the combined entity. With over 37 million broadband and mobile lines, the new entity becomes the leading player on the Spanish telecoms market in terms of customers, with the ambition to lead the market in talent, user experience, innovation, environmental and social impact, and fiber and mobile coverage. Its formation creates a sustainable player with the finan Show less Read more
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