Monday, 20 November 2017

Orange eyeing exit from BT

By Nick Wood, Total Telecom
Tuesday 20 June 17

French incumbent offloads 133 million shares for £383 million; plans to issue convertible bonds worth £520 million.

Orange on Tuesday sold a 1.33% stake in BT for £383 million, and announced plans to issue convertible bonds equating to another 1.33%. The transactions will reduce the French incumbent's holding in its troubled U.K. counterpart to 1.33% from 4%. Orange also said it may offload its remaining shares to a strategic investor…

Orange on Tuesday sold a 1.33% stake in BT for £383 million, and announced plans to issue convertible bonds equating to another 1.33%. The transactions will reduce the French incumbent's holding in its troubled U.K. counterpart to 1.33% from 4%. Orange also said it may offload its remaining shares to a strategic investor…

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