Jazztel shareholder GO Investment Partners ready to accept Orange's offer
Jazztel's [MCE:JAZ] significant shareholder GO Investment Partners said on Monday that it is ready to accept Orange’s [EPA:ORA] offer for the company as fair if the operation goes ahead, reported Expansion. GO Investment Partner Gavin Morris said that the EUR 13 per share offer was fair as it reflected the value of Jazztel as an independent company and that the timing was right.
Morris said it was unlikely a rival offer will emerge, the Spanish-language paper said. GO Investment holds 1.5% of Jazztel.
Jazztel shareholder Alken Asset Management (with a 5% stake in the Spanish teleco), has said Orange should pay EUR 20 per share of Jazztel. Sources from Alken told Expansion that about 2% of Jazztel's minority shareholders have rejected Orange's bid.
As announced, Jazztel, Chairman and main shareholder Leopoldo Fernández Pujals (14.5%) has accepted the offer.
Source Expansion