Dominican Republic’s telecoms regulator, Instituto Dominicano de las Telecomunicaciones (Indotel), has approved the sale of network operator Orange Dominicana to Luxembourg-based investment fund Altice Group, with Resolution 017/14. According to a press release, Altice Group is liable for DOP10 billion (USD231.54 million) in combined taxes for the dual acquisition of Orange Dominicana and Dominican integrated telecoms services provider Tricom.
As previously reported by TeleGeography’s CommsUpdate, in November 2013 Altice Caribbean, a subsidiary of Altice Group, signed an agreement to acquire Tricom for USD400 million. In addition, towards the end of the month, Paris-based Orange Group agreed to sell its Orange Dominicana unit to Altice for EUR1.1 billion. In December 2013 Altice CEO Patrick Drahi revealed that Tricom and Orange Dominicana will be merged within a seven-month period, once the takeover of the two companies had been finalised. After several months of negotiations, March 2014 saw Indotel grant its approval for the sale of Tricom to Altice Group.