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France Telecom to acquire 80% in Amena.

TELECOMWORLDWIRE-27 July 2005-France Telecom to acquire 80% in Amena(C)1994-2005 M2 COMMUNICATIONS LTD

France Telecom, the French state-controlled telecomms operator, has announced that it is to acquire an 80% stake in Amena, a mobile phone operator, for EUR6.4bn (USD7.7bn), increasing its foothold in Spain.

It is understood that France Telecom is to buy an 80% stake in the Spanish holding company Auna, which owns 97.9% of Amena, from the present Spanish owners - Banco Santander Central Hispano, Endesa, Union Fenosa and other shareholders. The deal, to be finalised after Auna's cable operations have been sold, is expected to strengthen France Telecom's Spanish position, with Amena holding a 24% share of the mobile market in Spain as of June this year. Auna, Amena and France Telecom Espana, the Spanish subsidiary of France Telecom, are then to be merged.

Amena has 9.7m customers and is valued at EUR10.6bn including EUR1.7bn of tax assets. Shareholders of Amena are believed to have agreed to keep their shares for three years, offering France Telecom first refusal rights if they decide to sell.

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Title Annotation:acquisition of Auna Operadores de Telecommunicaciones S.A.
Comment:France Telecom to acquire 80% in Amena.(acquisition of Auna Operadores de Telecommunicaciones S.A.)
Article Type:Brief Article
Geographic Code:4EUSP
Date:Jul 27, 2005
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