Orange opts out of Kangaroo
May 22, 2009
Orange has confirmed it has dropped out of talks to purchase the technology for Project Kangaroo, the failed VOD joint venture from the BBC, ITV and Channel 4.
France Telecom, Orange parent company, had been in discussions to acquire the technology since the UK’s Competition Commission banned the project earlier this year. However, France Telecom said the asking price too high, it is believed Project Kangaroo’s partners invested a £20 million (E22.7m) in the technology.
France Telecom said: “We can confirm that we are not pursuing our interest in Kangaroo. After in-depth due diligence we concluded it was unlikely that an outcome that benefited France Telecom’s Orange operations would be met.”