Orange agrees €4.25bn deal to take full control of Spanish joint venture
Final agreement would mark end of French telecoms company’s joint venture with private equity group Lorca
Final agreement would mark end of French telecoms company’s joint venture with private equity group Lorca

Orange, Bouygues and Free consider new proposal for multiple Altice assets after €17bn bid for SFR was rejected

Telecoms operators MasOrange and Vodafone Spain had anticipated selling a larger stake to an external investor

Orange, Bouygues and Free propose carving up assets that are led by SFR

Plan presented to unions following stock slide sparked by failure to unveil broader changes at capital markets day

Deal would be a key test of antitrust regulators’ views on in-market consolidation

Bankers and lawyers cautiously optimistic that investor confidence is returning