France Telecom plans to float up to 15% of shares of Orange PLC, ...
France Telecom plans to float up to 15% of shares of Orange PLC, its subsidiary European wireless carrier, in London and Paris. Share price will value Orange at 70-80 billion euros. Further 5% will be available to investors in…
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convertible bonds, exchangeable for Orange shares at up to 1/3 above price. Prospectus will be published at end of Jan. Flotation comes after mobile phone sector racked up debt in recent 3G license auctions.