Orange Sells Remaining Stake in BT Group for 486 million Euro

Image Credit: BT

Orange announced that it has completed the sale of its remaining 2.5%stake in BT Group for a net amount of GBP 486 million.

Of the total sold shares, around 41 million shares have been acquired by BT Group. The settlement of the Share Placement is expected on 2 July 2019.Citigroup Global Markets Limited acted as Sole Bookrunner for the Share Placement.

Orange Group originally acquired its stake in BT in 2016 when BT took over the EE which was a joint venture between Orange Group and Deutsche Telekom. In 2017, Orange sold approximately 1.33% of the share capital of BT for around GBP 383 million. Orange has taken a balanced approach which allows it to reduce the Group’s exposure to BT Group.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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