Take context from the input text and decide on the accurate relationship between 'Jazztel' and 'Orange' from the options provided.
Options: currency, owned by, employer, parent organization

Tough competition and falling prices during a recession have driven multibillion takeover deals in Spain with France's Orange (Taiwan OTC: 4554.TWO - news ) buying telecoms group Jazztel (Other OTC: JAZTF - news ) in September and Vodafone buying cable operator Ono in March.
owned by