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Orange mulls IPO of assets in Africa, ME
2014-10-13 09:11:00| Telecompaper Headlines
(Telecompaper) Orange is mulling an initial public offering (IPO) of its telephony operations in Africa and the Middle East, Bloomberg reported, citing reports in the French press. No details nor timing have been disclosed, and a spokesperson for the company said that the considerations are still at an early stage. Orange is mulling the sale of holdings in carriers that have about 100 million subscribers in countries from Egypt to Mali. An IPO would give Orange funds to cut debt and pursue acquisitions as its cash flow in Europe is hurt by falling phone bills amid price wars. French newspaper L'Agefi reported that Orange's new finance chief Ramon Fernandez and Gervais Pellissier, head of European business, had discussed an IPO in meetings with investors.
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Category:Telecommunications