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Orange Agrees Sale Of 50% Equity Interest And Co-control Of Orange Concessions

French telecommunications operator Orange (ORAN) announced that it has agreed to sell 50% equity interest and co-control of Orange Concessions to La Banque des Territoires, part of France's state-owned bank Caisse des Depots, insurer CNP Assurances and EDF Invest consortium.

The deal values Orange Concessions at 2.675 billion euros. The entity covers about 4.5 million fibre-to-the-home (FTTH) plugs in rural France. The transaction is expected to close by end 2021.

In line with its Engage 2025 strategic plan, this partnership gives Orange the flexibility to reinforce its development in fibre, notably in rural areas.

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