Orange and MasMovil Select Digi to Purchase Assets Amid EU Antitrust Concerns; Orange Exceeds Q3 Profit Expectations; Polish Unit Reports Profit Increase, Secures 5G License

Continued growth observed across Orange's regional operations, as it navigates EU antitrust concerns, banks on cost-cutting strategies and price hikes for Q3 profit, while Polish arm sees profit rise and secures 5G license.

• Orange and MasMovil have chosen Romania's Digi to buy assets they intend to divest to address EU antitrust concerns over their Spanish tie-up, a deal valued at 18.6 billion euros. The move comes amid EU concerns that the deal could reduce competition and increase prices.
• Digi has seen significant growth, expanding rapidly in the Spanish market since its launch in 2008, boasting more than 5.7 million customers by mid-2023.
• Orange exceeded expectations for third-quarter core operating earnings, attributing this success to its cost-cutting plan and price increases. Revenue in Africa and the Middle East increased by more than 12%, and the company remains optimistic about getting European Commission approval for the merger of its Spanish unit and MasMovil.
• The Polish branch of Orange reported a 23% increase in third-quarter net profit, amounting to 237 million zlotys. Despite a 3% decrease in revenue, the company manages to increase earnings due to the resilience of core telecom services amidst a tough macro environment and fierce competition.
• Orange's Polish unit also recently secured a 5G C-band license, which the company said is a milestone that paves the way for new service opportunities for its customers and significantly enhances the capacity of its mobile networks.

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