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MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Orange Belgium S.A.    OBEL   BE0003735496

ORANGE BELGIUM S.A.

(OBEL)
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Orange Belgium S A : Plans to Launch Takeover Bid for Belgian Subsidiary

12/03/2020 | 01:47am EST

By Pietro Lombardi

Orange said late Wednesday that it plans to launch a takeover bid for its Belgian subsidiary Orange Belgium SA that would value the business at roughly 1.3 billion euros ($1.58 billion).

The French telecommunications company, which according to FactSet holds almost 53% in Orange Belgium, wants to launch a conditional offer of EUR22 a share in cash for all the shares it doesn't own already. This is a premium of almost 36% compared with Orange Belgium's closing price on Wednesday.

"This project is part of the continued efforts of the Orange Group to adapt the capital structure of its subsidiaries to their needs," it said.

A delisting of Orange Belgium may be considered, depending on the conditions. If Orange reaches a stake of at least 90% and voting rights of 95% after the offer, it would then launch a squeeze-out.

The launch of the offer, its timing and conditions will depend on some factors, including market conditions and the developments in financial markets, Orange said.

Should an offer be made, there would be no minimum thresholds and a material adverse change clause would be included.

Orange Belgium said late Wednesday that it took note of the news.

"The Board of Directors of Orange Belgium will meet as soon as possible to take note and examine the content of the offer in accordance with the legal provisions," it said.

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

(END) Dow Jones Newswires

12-03-20 0146ET

Stocks mentioned in the article
ChangeLast1st jan.
ORANGE 0.27% 9.588 Real-time Quote.-1.50%
ORANGE BELGIUM S.A. 0.45% 22.5 Real-time Quote.3.21%
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Financials
Sales 2020 1 335 M 1 625 M 1 625 M
Net income 2020 53,0 M 64,6 M 64,6 M
Net Debt 2020 245 M 298 M 298 M
P/E ratio 2020 25,2x
Yield 2020 2,56%
Capitalization 1 350 M 1 643 M 1 643 M
EV / Sales 2020 1,19x
EV / Sales 2021 1,17x
Nbr of Employees 1 389
Free-Float 46,9%
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Technical analysis trends ORANGE BELGIUM S.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 22,13 €
Last Close Price 22,50 €
Spread / Highest target 28,9%
Spread / Average Target -1,66%
Spread / Lowest Target -14,7%
EPS Revisions
Managers and Directors
NameTitle
Xavier Pichon Chief Executive Officer
Johan Deschuyffeleer Chairman
Arnaud Castille Chief Financial Officer
Stefan Slavnicu Chief Technology Officer
Javier Diaz Sagredo Chief Transformation & Digital Officer
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