Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Orange    ORA   FR0000133308

ORANGE

(ORA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

France's Orange moves closer to IPO of MidEast, Africa operations

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/09/2020 | 10:55am EST
FILE PHOTO: The logo of French telecoms operator Orange is pictured in a retail store in Bordeaux

France's biggest telecoms group Orange is bringing its operations in the Middle East and Africa into a single entity, paving the way for a potential listing of the operations that could raise cash to invest in overseas expansion.

The Middle East and Africa, where Orange has a presence in 18 countries, is the company's fastest-growing market, generating annual sales of about 5 billion euros (4.30 billion pounds).

The region makes a large chunk of its revenues from payment transfers - a key part of the group's diversification into financial services.

"Orange has decided to bring together all our regional activities in a single company, OMEA (Orange Middle-East and Africa), to create a separate entity and provide the Group with various options for growth," Orange said in a statement, following the inauguration of its local headquarters in Casablanca, Morocco.

"An IPO (initial public offering) of OMEA is one of these potential scenarios, and the decision will depend on a number of factors, including strategic opportunities and market orientation, always with the central criterion of accelerating the growth of this business," it said.

The Paris-based group, which competes with the likes of Vodafone-controlled Vodacom, Airtel Africa and South Africa’s MTN in the region, has been weighing a listing of its operations there for about six years.

At Orange's last investor day in December, Chief Executive Officer Stéphane Richard said the group was "technically ready" for a potential listing of the combined operations, adding a possible expansion in Ethiopia could be a catalyst for the IPO.

The combined enterprise value of the operations amounts to about 10 billion euros, an analyst said.

That valuation was echoed by a source close to the matter, who confirmed earlier reports that Morgan Stanley and BNP Paribas were working as global coordinators for a listing.

This valuation is based on a OMEA's yearly core operating profit of 1.7 billion euros in 2018 and a premium to the valuation of Airtel Africa, which trades at 5.5 times its expected core earnings, the same source said.

Morgan Stanley had no immediate comment. BNP Paribas declined to comment.

(Reporting by Sudip Kar-Gupta, Mathieu Rosemain and Arno Schuetze; Additional reporting by Gwenaelle Barzic; Editing by Jason Neely and Mark Potter)

Stocks mentioned in the article
ChangeLast1st jan.
AIRTEL AFRICA PLC 1.09% 70.761 Delayed Quote.-12.45%
BNP PARIBAS -0.24% 50.39 Real-time Quote.-4.43%
CASABLANCA GROUP LIMITED -1.43% 0.69 End-of-day quote.-2.82%
DOW JONES AFRICA TITANS 50 INDEX -0.01% 538.44 Delayed Quote.0.45%
MORGAN STANLEY 1.90% 57.51 Delayed Quote.12.50%
MTN GROUP LIMITED -0.57% 83.52 End-of-day quote.1.59%
ORANGE -0.11% 13.045 Real-time Quote.-0.46%
S&P AFRICA 40 INDEX -0.59% 167.7 Delayed Quote.-2.51%
VODACOM GROUP LIMITED -0.78% 120.97 End-of-day quote.4.92%
VODAFONE GROUP PLC -0.26% 154.6 Delayed Quote.5.61%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ORANGE
01/17Tesla Unintended-Acceleration Claims to be Reviewed by U.S. Regulators--Updat..
DJ
01/17Trump Plans India Visit Now That China Trade Deal Is Inked
DJ
01/15ORANGE : Jordan Launches "Orange Money" E-Wallet Service
AQ
01/15ORANGE : Jordan Launches “Orange Money” E-Wallet Service Orange Mone..
AQ
01/13Nissan wants to divorce Renault, weak sales for Ford in China, Boeing’s crisi..
01/09France's Orange Combines Middle East, Africa Operations -- Reuters
DJ
01/09France's Orange moves closer to IPO of MidEast, Africa operations
RE
01/09France's Orange considering IPO of Middle East, Africa operations
RE
01/08ORANGE : opens its new Orange Middle East and Africa headquarters in Morocco, co..
AQ
01/08ORANGE : opens its new Orange Middle East and Africa headquarters in Morocco, co..
AQ
More news
Financials (EUR)
Sales 2019 41 945 M
EBIT 2019 5 533 M
Net income 2019 2 583 M
Debt 2019 26 866 M
Yield 2019 5,42%
P/E ratio 2019 13,3x
P/E ratio 2020 12,6x
EV / Sales2019 1,47x
EV / Sales2020 1,46x
Capitalization 34 613 M
Chart ORANGE
Duration : Period :
Orange Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ORANGE
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 15,89  €
Last Close Price 13,06  €
Spread / Highest target 45,5%
Spread / Average Target 21,7%
Spread / Lowest Target -4,29%
EPS Revisions
Managers
NameTitle
Stéphane Richard Chairman & Chief Executive Officer
Ramón Fernández CFO, Deputy CEO-Finance & Strategy
Mari-Noëlle Jégo-Laveissière Senior EVP-Innovation, Marketing & Technology
Charles-Henri Filippi Lead Independent Director
Helle Kristoffersen Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ORANGE-0.46%38 361
VERIZON COMMUNICATIONS-2.07%248 685
NIPPON TELEGRAPH AND TELEPHONE CORPORATION3.28%93 966
DEUTSCHE TELEKOM AG1.30%77 578
SAUDI TELECOM COMPANY SJSC--.--%52 503
BCE INC.2.98%42 880