Orange may float its Africa unit, which could be worth nearly 13 bln euros. That’ll raise plenty of cash, but isn’t CEO Stephane Richard’s only option. A mobile-tower sale would achieve the same aim, and with a bigger valuation boost, says edwardcropley:
French telecommunications group Orange said on Jan. 9 that it was bringing its Middle East and Africa operations into a single entity, paving the way for a potential listing.
Orange has operations in 18 countries in the Middle East and Africa. The region is the group’s fastest-growing market, generating annual sales of roughly 5 billion euros. At Orange’s last investor day in December, Chief Executive Stephane Richard said the division was “technically ready” for a listing, with potential expansion into Ethiopia as a catalyst.
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