Orange bid for Jazztel accepted by 95 percent of shareholders: report

Reuters News
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Posted: Jun 26, 2015 1:35 AM

MADRID (Reuters) - The takeover bid of French telecoms group Orange <ORAN.PA> of Spain's Jazztel <JAZ.MC> was accepted by 95 percent of shareholders of the Spanish group, business daily Expansion said on Friday.

Such a high backing for the offer means that Orange is now likely to take the company private, although it has said it would later launch an initial public offering to list part of the firm resulting from the merger of its Spanish unit and Jazztel.

(Reporting by Julien Toyer; Editing by Biju Dwarakanath)