|09 January, 2020

France's Orange considering IPO of Middle East, Africa operations

Orange has decided to bring together all regional activities in a single company

The logo of French telecoms group Orange is seen at the entrance of the Cyberdefense division headquarters at Nanterre, France, October 5, 2017.

The logo of French telecoms group Orange is seen at the entrance of the Cyberdefense division headquarters at Nanterre, France, October 5, 2017.

Reuters/Charles Platiau

PARIS: French telecoms group Orange is considering a possible stock market flotation of its combined Middle East and Africa operations, Orange said on Thursday.

"Orange has decided to bring together all our regional activities in a single company, OMEA, to create a separate entity and provide the Group with various options for growth," Orange said in a statement.

"An IPO of OMEA is one of these potential scenarios, and the decision will depend on a number of factors, including strategic opportunities and market orientation, always with the central criterion of accelerating the growth of this business," it said.

(Reporting by Sudip Kar-Gupta; editing by Jason Neely) ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))

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