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French telecom tycoon Xavier Niel‘s personal holding company NJJ Capital has agreed to buy Orange Switzerland from Apax Partners in a deal worth €2.3 billion ($2.8 billion), Apax said in a statement.
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Apax Partners said it has agreed to sell Orange Communications SA to NJJ Capital, about two years after the private-equity fund took control of the Swiss mobile operator.
The acquisition highlights Niel’s growing interest in expanding his telecom portfolio outside of France Niel’s telecom assets across Europe. Earlier this year Niel, the founder of French telecom firm Iliad SA, bought Monaco Telecom. He has also attempted to enter the American market, but Deutsche Telekom AG, owners of T-Mobile US, rejected his offer.
