Orange has confirmed it has dropped out of talks to purchase the technology for Project Kangaroo, the failed VOD joint venture from the BBC, ITV and Channel 4.

France Telecom, Orange parent company, had been in discussions to acquire the technology since the UK’s Competition Commission banned the project earlier this year. However, France Telecom said the asking price too high, it is believed Project Kangaroo’s partners invested a £20 million (E22.7m) in the technology.

France Telecom said: “We can confirm that we are not pursuing our interest in Kangaroo. After in-depth due diligence we concluded it was unlikely that an outcome that benefited France Telecom’s Orange operations would be met.”

Other posts by :

1. SES warns of risks for airlines adopting Starlink
2. Starlink facing backlash in South Africa
3. China wants 200,000 satellites
4. Bank raises view on AST to $100 
5. Frost & Sullivan cites Hughes as #1
6. Verizon cutting prices
7. ScotiaBank confuses market over AST SpaceMobile
8. EchoStar gains bank support
9. SpaceX complains to FCC over AST SpaceMobile

Categories: Articles, Business, M&A, OTT, OTT