Orange says all options on table after report on plans to sell online banking unit
Reuters
Published Oct 12, 2022 14:40
(Reuters) - Orange is considering "all opportunities" for its online banking arm following a report by French paper Les Echos on Wednesday that said France's biggest telecoms company was planning to sell Orange Bank.
"In a very highly competitive environment in the banking market, Orange is considering all opportunities to develop Orange Bank's activities and support its growth," a spokesperson for the group told Reuters.
Orange was willing to give up control of its loss-making subsidiary, according to media reports last year, with BNP Paribas (EPA:BNPP) seen at the time as the leading candidate among French lenders.
Citing sources, Les Echos said the telecom operator had mandated investment bank Lazard to launch a new sale or alliance scenario, which Orange declined to confirm.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.