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Orange lowers acceptance threshold for Jazztel acquisition offer

Published 16/10/2014, 20:16
© Reuters The logos of Jazztel and Orange are pictured in Madrid

MADRID (Reuters) - French telecoms group Orange has lowered the threshold of shareholder backing it needs in order for its 3.4 billion euro (2.71 billion pounds) offer to buy Spanish operator Jazztel to go through.

The deal is conditional on 51.398 percent of shareholders backing the offer, Orange said in a statement to Spain's stock market regulator, down from the 57 percent threshold it had previously set.

© Reuters. The logos of Jazztel and Orange are pictured in Madrid

(This version corrects original acceptance threshold from 65 percent to 57 percent)

(Reporting by Andres Gonzalez, Writing by Sarah White, Editing by Julien Toyer)

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