Funds advised by Apax Partners today announced that they have entered an agreement to purchase 100 per cent of mobile phone operator Orange Switzerland from France Telecom Orange for approximately CHF2 billion (€1.6 billion).The transaction, which is subject to the approval of the Swiss competition authorities, will be submitted to the Board of Directors of France Telecom for approval during January 2012.

Orange Switzerland is one of the leading mobile operators in Switzerland with 1.6 million customers and the highest average revenue per user („ARPU“) in the market. In 2010 it reported revenues of CHF1.3billion (€1.1billion).

Ian Jamieson and Tom Burton of Jamieson Corporate Finance LLP have advised the senior management team of the company on their investment into the Apax bid vehicle.