Iliad’s Niel acquires Orange Switzerland

Apax Partners has agreed to sell Orange Switzerland to French telecoms tycoon Xavier Niel-owned investment firm NJJ Capital for 2.3 billion. Apax bought the operator from France Telecom Orange in 2012 for €1.6 billion, but claims to have transformed the business since by upgrading its network to 4G and modernising its backend IT systems.