Paris-based telecoms giant Orange Group has reportedly appointed Morgan Stanley and Bank of America Merrill Lynch as advisers in the potential sale of its wholly-owned subsidiary Orange Dominicana, TMT Finance reports. As previously reported by TeleGeography’s CommsUpdate, Orange Group has been considering the sale of its Dominican unit, in a deal that could raise up to EUR900 million (USD1.2 billion) in an attempt to moderate its debt. Although Orange Group declined to comment on the Dominican Republic exit, a spokesperson for the company affirmed that the group regularly conducted assessments of its subsidiaries to ‘analyse their performance, growth potential and coherence with the group’s strategy.’ Sources familiar with the matter stated that Orange started speaking to potential advisers in June 2013, while a sale procedure is expected to kick off in September.
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