(Reuters) – Orange is exploring “all opportunities” for its online bank, a spokesman for the group said on Wednesday in reaction to a report by Les Echos that the telecoms giant is considering selling 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,” the spokesperson told Reuters.
Press articles have already mentioned last year the telecommunications group’s desire to separate from its subsidiary with 2.6 million customers, which caused Orange to lose 880 million euros in five years according to Les Echos. BNP Paribas was then considered the favorite of potential takeover candidates.
Still according to Les Echos, Orange has mandated Banque Lazard to launch a new sale or alliance scenario in order to ensure the future of its loss-making subsidiary.
(Report Mathieu Rosemain, written by Juliette Portala, French version Alizée Degorce, edited by Jean-Stéphane Brosse)
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