Overview
- Orange reached a nonbinding agreement to purchase the remaining 50% of MasOrange in cash from Lorca, the vehicle for KKR, Cinven and Providence, and other minority holders.
- The parties aim to sign a binding deal before the end of 2025 with closing targeted for the first half of 2026, pending worker consultations and regulatory approvals.
- The move executes a buyback option embedded in the 2024 merger that enables Orange to take control two years after integration, from March 2026.
- Orange intends to keep the current leadership team in place, including CEO Meinrad Spenger.
- The transaction enables the exit of the private equity funds that backed MásMóvil and it makes a near‑term MasOrange IPO unlikely.