Press Release | 27 June 2019

Orange launches the sale of its remaining stake in BT Group plc

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Not for publication or distribution in the United States of America, Australia, Canada, Japan or Italy, or in any other jurisdiction in which offers or sales would be prohibited by applicable law. This press release does not constitute or form a part of any offer to sell or subscribe nor a solicitation to buy or subscribe to any securities of BT or Orange, and the placement of the shares of BT does not constitute, in any circumstances, a public offering in any country, including France.

Orange announces the launch of the sale of its residual stake in BT Group plc of approximately 248 million shares, representing around 2.5% of the share capital, through a private placement by way of an accelerated book building offering (the “Share Placement”).

BT Group plc will participate in the Share Placement with a GBP 80 million irreducible order at the placement price.

Following the Share Placement, Orange will no longer be shareholder of BT Group plc and will no longer have any exposure to the shares of BT Group plc, having recently fully hedged its exchangeable bonds into BT Group plc shares issued in June 2017.

The Share Placement is targeted at eligible institutional and qualified investors. The final terms of the Share Placement will be determined by Orange at the conclusion of the book building process and will be announced in a separate press release. The transaction is expected to settle on 2 July 2019. There will be no public offering in any country.

The proceeds of the Share Placement will be used for the general corporate purposes of Orange.

Citigroup Global Markets Limited is acting as Sole Bookrunner for the Share Placement.

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Press contacts

Contacts presse

01 44 44 93 93

  • Olivier Emberger; olivier.emberger@orange.com

01 44 44 93 93

  • Tom Wright; tom.wright@orange.com

 

 

About Orange

Orange is one of the world’s leading telecommunications operators with revenues of 40.3 billion euros in 2024 and 125,800 employees worldwide at 31 March 2025, including 69,700 employees in France. The Group has a total customer base of 294 million customers worldwide at 31 March 2025, including 256 million mobile customers and 22 million fixed broadband customers. These figures account for the deconsolidation of certain activities in Spain following the creation of MASORANGE. The Group is present in 26 countries (including non-consolidated countries).
Orange is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business. In February 2023, the Group presented its strategic plan 'Lead the Future', built on a new business model and guided by responsibility and efficiency. 'Lead the Future' capitalizes on network excellence to reinforce Orange's leadership in service quality.

Orange is listed on Euronext Paris (symbol ORA).
For more information on the internet and on your mobile: www.orange.com, www.orange-business.com and the Orange News app or to follow us on X: @orangegrouppr.

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