Orange ‘denies’ full takeover of Euskaltel

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Orange Spain has denied press reports the group is considering taking a 100 per cent stake in the Basque-country-based telco operator Euskaltel.

In a statement to the Spanish stock market regulator, CNMV, Orange Spain was nevertheless ambiguous by stating that the group is always on the lookout for growth opportunities in Spain.

Industry observers believe that the company would be interested in acquiring up to 30 per cent of Euskaltel to become the largest shareholder, avoiding having to make a bid for the 100 per cent of the company.


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