MADRID - Orange's Spanish unit will invest nearly 4 billion euros ($4.75 billion) in 2021, CEO Jean-Francois Fallacher said on Thursday, almost quadrupling 2020's investment levels despite bruising market conditions and a 3.7 billion-euro writedown in the second quarter.

"The Spanish market is hyper-competitive... but amid the three main operators Orange is a strong second," Fallacher told reporters in a call. "Last year we invested over 1 billion euros - this year's investment will be closer to 4 billion."

  - Reuters