Orange Sunrise across Switzerland

As corporate giants look to consolidate across Europe, France Telecom and Danish provider TDC today announced an agreement to merge their Swiss holdings, Orange Switzerland and Sunrise Communications. FT will pay €1.5 billion to TDC and after some more financial jiggery-pokery will become 75% shareholder, TDC will own the remaining 25%.

The new company will have about 3.4 million mobile and 1.1 million fixed and broadband customers. Around 38% of mobile and 13% of fixed line and broadband subscribers. It’s claimed better 2G and 3G coverage, broadband capacity and overall quality will be a key outcomes of the merger.

Statements from both companies are seasoned with the usual corporate buzz words; milestone, commitment, consolidation, synergies, savings. Undoubtedly there will be job losses. This is a case of two players, each with about 20% of the pot combing powers because they realise they have more to lose competing with each other.

Like to know more? press release here

Originally published at OneMobileRing.com