Telecom companies Orange and MasMovil plan mega-merger in Spain

The proposed merger will value Orange’s Spanish business at €7.8 billion and MasMovil at €10.9 billion. The joint turnover amounts to more than 7.3 billion euros, the operating profits add up to more than 2.2 billion euros. Orange’s main shareholder is the French state, which holds 23 percent of the shares. MasMovil is majority owned by financial investors KKR, Providence and Cinven.