France's largest telecom operator Orange SA is close to reaching an agreement with Altice on the sale of its Dominican Republic business, Bloomberg reported on Sunday citing three people familiar with the matter. Bloomberg, citing one of the sources, reported that an agreement could be announced as soon as this week.A spokeswoman for Orange said the company does not comment on speculation.Altice, a Luxembourg-based cable and telecommunications company, could not immediately be reached for a comment outside regular business hours.The sale of the unit would be at a price "significantly over" 1 billion euros ($1.35 billion), Orange's Chief Executive Stephane Richard on Friday said at a Morgan Stanley investor conference in Barcelona.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.46% or $0.45/share to $31.34. In the past year, the shares have traded as low as $16.23 and as high as $31.35. On average, 13090600 shares of MS exchange hands on a given day and today's volume is recorded at 10566472.
Orange SA, formerly France Telecom SA, is a France-based company that is engaged, principally, in the provision of integrated telecommunications services. Shares of ORAN traded higher by 1.58% or $0.2/share to $12.86. In the past year, the shares have traded as low as $9.10 and as high as $14.68. On average, 909162 shares of ORAN exchange hands on a given day and today's volume is recorded at 290481.
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