In this context, on 7 October 2024, the authority ordered the seizure of 312 million euros. This amount has been deposited with the French public financial institution Caisse des dépôts et consignations and will remain unavailable to Orange during the procedure. These amounts will be recorded in a specific account on Orange's balance sheet and will appear as such in its financial statements as of 31 December 2024. This seizure does not call into question the Group's financial guidance.
Orange appealed this seizure. Given that the Group contests all additional payments linked to this tax readjustment, this procedure does not change the assessment of risk described in the Group’s 2023 Universal Registration Document (URD).
Neither Orange's financial situation nor its reputation justifies such a measure. Orange is one of the leading telecommunications operators in the world with, as of 30 June 2024, a consolidated total balance sheet of 104.4 billion euros, and a cash position of 17.4 billion euros for telecom activities. In addition, Orange is listed on the Euronext Paris stock exchange (symbol: ORA) and the French state holds 22.95% of its share capital.
Independently, during this preliminary investigation phase, Orange is fully cooperating with the PNF to determine the documentary scope of the investigations.
