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Orange completes MasOrange takeover

Orange made a second decisive acquisition move in as many days after completing a buyout of its partner in Spanish joint venture MasOrange.

The French operator detailed the completion of the deal late yesterday (8 June), two days after a move involving the assets of domestic rival SFR.

Orange began its quest to purchase the 50% of MasOrange it did not own from partner Lorca in October 2025 and the process ran relatively smoothly, with a definitive deal made two months later and regulatory clearance secured earlier this year.

MasOrange CEO Meinrad Spenger gains a place on Orange’s executive committee. He said the buyout cements the operator’s foundations and improves its “capacity for investment and innovation”.

Orange intends to refinance MasOrange debt “over time”.

The operator highlighted the acquisition of the remainder of MasOrange as important to a current strategy focused on the theme of trust, while also bolstering its position in Spain, its second-largest market in Europe.

“It paves the way for accelerated industrial, operational and commercial synergies”, CEO Christel Heydemann said.

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Bouygues, Orange, Free agree €20B SFR carve up

French operators Bouygues Telecom, Free-Iliad Group and Orange reached a deal with Altice France to acquire SFR for a total enterprise value of €20.4 billion, sparking a major shake-up of the country’s telecoms sector.

The three would-be acquirers signed a memorandum of understanding with Altice France less than two months after entering into exclusive talks. An initial offer of €17 billion was rejected in October 2025.

Terms of the proposed deal remained unchanged from what was laid out in April, with Bouygues taking a 42% stake, Free-Iliad 31% and Orange 27%.

SFR’s consumer mobile and broadband units will be carved up between the consortium, with Bouygues to take control of the B2B segment.

With the deal expected to be subject to intense national and European regulation, breakup fees of between €100 million and €2 billion have been agreed, depending on the reason for any collapse and timing of termination of the deal.

Regulatory scrutiny is likely to be fierce because the transaction will reduce the number of players in the market from four to three, though there are signs traditional European regulatory resistance to deals which do so are beginning to lessen and the European Commission indicated an easing of corporate merger rules earlier this year.

The companies stated the proposed transaction would create value for all stakeholders, and ensure continued development of France’s infrastructure and digital ecosystem.

Combining SFR’s assets “is expected to generate significant synergies”, benefitting consumers and the overall digital ecosystem by bolstering the capacity to invest.

A consultation period will now be opened with relevant employee representative bodies. Definitive legal documents are expected to be signed in the second half of 2026 with completion expected in the second half of 2027, following regulatory clearance.

Big challenge
Kester Mann, director of consumer and connectivity at CCS Insight, believes the deal paves the way for the greatest shake-up in the French telecoms sector since the arrival of Iliad in 2012.

“The agreement appears a successful outcome for all parties. Bouygues, Orange and Iliad each gain important new assets in their pursuit for greater scale, while eliminating a major rival will reduce the competitive intensity of the market.”

He warned the biggest challenge would be to convince competition authorities the deal is positive for the French market.

“Several years ago, this would have felt like a herculean task. But the regulatory tide has steadily been turning favour of consolidation in Europe following recent deals approved in the UK and Spain. Although a lengthy probe is likely, it is surely odds-on to get the green light,” he added.

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Orange Business touts genAI healthcare use case

Orange Business secured a deal to supply French public hospital group GHT Rouen Coeur de Seine with a generative AI (genAI) platform, equipping 15,000 health professionals across its network with secure sovereign AI tools.

The French operator’s enterprise unit will deploy Live Intelligence, its enterprise genAI platform, across the hospital group to provide a controlled alternative to unverified public AI tools. It stated the long-term partnership spans infrastructure, strategy and operational support.

Rouen University Hospital, the group’s support entity, selected the platform to govern AI usage and ensure secure deployment across its workforce. Orange Business said the platform intends to support and upskill staff across clinical, administrative and technical roles, creating a common framework for genAI training and responsible use.

The platform is hosted in France and can be connected to the hospital group’s information systems, with early use cases already in play. Research teams at Rouen University Hospital are using genAI to speed up grant applications, cutting the process timeframe from three weeks to two days. The operator added sourcing requests involving specifications and evaluation criteria could be reduced from two weeks to one day.

As part of the deal, the partners also plan to develop a long-term innovation programme with other university hospitals to build AI use cases relevant to the wider healthcare sector.

Claire Scotton, VP of healthcare and life sciences at Orange Business, said some hospital staff feel they have become “‘data managers’ as much as healthcare professionals”, adding the platform aims to help them “reclaim time to focus on what truly matters: patient care, meaningful work, and collaboration”.

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Orange Travel takes eSIM push to Trip.com

Orange deepened its push into the travel eSIM market through a global distribution deal with online travel agency Trip.com, offering mobile connectivity at the point of travel booking as demand for roaming services grows.

Orange Travel, an Orange Group subsidiary, stated the partnership will enable Trip.com users to buy Orange Travel eSIM packages directly on the agency platform, allowing customers to arrange connectivity before departure, pay in local currency and activate the eSIM upon arrival.

Trip.com customers will be able to buy packages covering France, Italy, Spain, the UK and Switzerland, with the partners aiming to target key European tourist markets. The pair noted the region accounts for more than 50 per cent of global tourist arrivals, led by France and Spain.

The packages on offer include calls, texts and data across 20GB, 50GB and 100GB options, with validity periods of ranging from a week to 30 days. Prices start at €8.99.

Orange Travel highlighted its eSIM services are supported by the Orange Group’s network reach, including connectivity in more than 200 destinations and 700 roaming agreements worldwide.

Orange Travel CEO Frederic Blehaut said the agreement demonstrates its “commitment to accelerating our growth in Asia and internationally through strategic partnerships”, adding the subsidiary offers “European eSIMs with a recognised quality of service backed by the Orange Group’s know-how”.

Chase Liu, general manager of international attractions and tours business at Trip.com Group, added: “With tailor-made offers and packages easily accessible on our platform, our customers can enjoy enhanced connectivity and greater convenience when they travel in this region.”

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