Orange has completed the acquisition of the remaining 5.25% of Jazztel’s share capital not previously owned by the group.
“This transaction results from the exercise of the squeeze-out rights ensuing from Orange’s successful tender offer on Jazztel,” the company said, adding that the squeeze-out has been exercised at a price of €13 per share, the same price as the original offer.
Orange now owns 100% of Jazztel, which will automatically be delisted from the Spanish Stock Exchanges today, August 19.
Meanwhile, Jazztel has raised the prices of mobile and fixed-line bundles from the end of September with two euros. This is in line with similar prices increases from Vodafone and Telefonica.