Orange Group considers flotation of MEA units, report says

13 Oct 2014

French telecoms behemoth Orange Group is said to be considering a move to float its Middle East and Africa (MEA) businesses as it looks to raise capital to reinvest in Europe, according to an unconfirmed report in the financial newspaper Agefi citing the company. Orange has said however, that the two regions remain a key component of its future strategy, adding that: ‘… no decision has been taken regarding the exact details of any such project and no calendar has been defined.’ Indeed, Gervais Pellissier, deputy CEO of operations in Europe, said that for now it was ‘just a thought’, adding that no decision would take place before 2015. The group has more than 91.8 million customers in around two dozen African and Middle Eastern markets and revenues from same reached EUR2.1 billion (USD2.65 billion) in H1 2014, up 7.4% year-on-year, as compared to a 4.6% fall in turnover in its home market. Moreover, revenue also slipped in other key European markets such as Poland and Spain.

France, Orange Group