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Orange says all options on table after report on plans to sell online banking unit

Published 12/10/2022, 14:40
Updated 12/10/2022, 14:47
© Reuters. FILE PHOTO - A woman walks past the logo of French telecom operator Orange at the telecommunication company headquarters in Issy-les-Moulineaux near Paris, France, August 6, 2022. REUTERS/Sarah Meyssonnier

(Reuters) - Orange is considering "all opportunities" for its online banking arm following a report by French paper Les Echos on Wednesday that said France's biggest telecoms company was planning to sell Orange Bank.

"In a very highly competitive environment in the banking market, Orange is considering all opportunities to develop Orange Bank's activities and support its growth," a spokesperson for the group told Reuters.

© Reuters. FILE PHOTO - A woman walks past the logo of French telecom operator Orange at the telecommunication company headquarters in Issy-les-Moulineaux near Paris, France, August 6, 2022. REUTERS/Sarah Meyssonnier

Orange was willing to give up control of its loss-making subsidiary, according to media reports last year, with BNP Paribas (EPA:BNPP) seen at the time as the leading candidate among French lenders.

Citing sources, Les Echos said the telecom operator had mandated investment bank Lazard to launch a new sale or alliance scenario, which Orange declined to confirm.

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