In the context of the input sentence, determine the relationship between 'Jazztel' and 'Orange'.
Options: employer, currency, owned by, 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