Orange does not plan any counter bid for Spain's MasMovil

MADRID (Reuters) – French telecom giant Orange (ORAN.PA) said on Thursday it doesn’t plan to make a rival bid for Spanish telecom operator MasMovil (MASM.MC) after three buyout funds made a 3 billion euro ($3.36 billion) offer on Monday.

“Orange is not contemplating a counter-offer for MasMovil group. Orange has a privileged position in the telco sector in Spain and has the support of the Orange group to continue growing organically in the country,” the company said in an emailed statement.

($1 = 0.8930 euros)

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