Orange completes Spanish squeeze-out

Orange has completed the acquisition of the 5.25% of Spanish alternative telco Jazztel that it did not already own through a squeeze-out process.

Orange implemented the squeeze-out with an offer of €13 a share, the same price it offered for the Jazztel shares it acquired through its offer for the company.

Completion of the process gives Orange 100% ownership of the telco, and the company will be delisted from the Spanish stock exchange on August 19.