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Hutchinson Whampoa in advanced talks to buy Orange Austria for USD1.8bn
Hutchinson Whampoa (HW), owner of European mobile operator 3 Group, is in advanced talks with France Telecom SA to acquire its 35% stake in Orange Austria for around EUR1.4bn (USD1.8bn). Sources tell the Wall Street Journal that the deal could be finalised within weeks and would include the purchase of debt. Currently, HW’s 3 is Austria's fourth-largest provider, and Orange the third-largest. Combined, they would hold about 30% of the market. As a result of the rumour, the price of Hutchinson stock rose by 1.9%.
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