Orange lowers acceptance threshold for Jazztel acquisition offer
By Reuters
Oct 17, 2014 02:46 AM EDT
Regions
The logo of French telecom operator Orange is seen during the company's 2013 annual results presentation in Paris March 6, 2014. (Photo : Reuters)
French telecoms group Orange (ORAN.PA) has lowered the threshold of shareholder backing it needs in order for its 3.4 billion euro ($4.36 billion) offer to buy Spanish operator Jazztel (JAZ.MC) to go through.
The deal is conditional on 51.398 percent of shareholders backing the offer, Orange said in a statement to Spain's stock market regulator, down from the 57 percent threshold it had previously set.
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