Orange nears sale of Dominican unit for over €1B

|About: Orange (ORAN)|By:, SA News Editor

Orange (ORAN) is reportedly close to selling its Dominican Republic unit to cable and telecommunications investor Altice and could announce a deal this week.

On Friday, Orange CEO Stephane Richard said the French telecom carrier was close to a deal for "a price well above €1B ($1.35B)," although Richard didn't disclose the buyer.

The sale is part of a trend of major European telecom operators divesting non-core assets.