Orange to Acquire 50% Stake in MasOrange from Lorca

Orange has entered a binding agreement with Lorca to acquire the remaining 50% stake in MasOrange, a major telecommunications operator in Spain. The acquisition will cost Orange 4.25 billion euros in cash, thereby granting it full ownership of MasOrange. This move follows a previous non-binding agreement announced in October, signaling Orange's intent to solidify its presence in Spain, its second-largest market in Europe.

The transaction supports Orange's "Lead the Future" strategic plan, emphasizing its long-term industrial commitment and confidence in MasOrange's management. The completion of this acquisition is anticipated in the first half of 2026, contingent on regulatory approvals and other conditions.

Orange will consolidate MasOrange into its accounts upon closing, incorporating certain debt expected to be refinanced. This consolidation underscores Orange's expanded market capabilities in Spain.