Switzerland Approves Apax-Orange Deal

The Swiss government has approved Apax Partners’ acquisition of Orange Switzerland from France Telecom, Reuters reported Friday. Apax said in December that it would pay about 1.6 billion euros ($2.09 billion) to buy the mobile phone operator.

(Reuters) – The Swiss competition authority on Friday said it approved buyout firm Apax’s purchase of Orange Switzerland from France Telecom.

The French telecom firm’s original plan, to merge Orange Switzerland with Sunrise to better compete with market leader Swisscom, was blocked by the competition body. (Reporting by Katharina Bart. Editing by Mark Potter)