French telco giant, Orange, is making the necessary steps towards an IPO for its Africa and Middle East business ventures.
According to a report by Bloomberg, Orange is planning to list them on the London and Paris stock exchange, pending advice from Morgan Stanley and BNP Paribas.
Orange’s Africa & Middle East Operations brought in U$ 1.8 Billion of adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) in 2019 as reported by the telco.
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Orange user base consists 266 million customers across the world. Orange also employs 89,000 people in France aloe, and 59,000 people in all its operations elsewhere.
It takes 10th placed as the world’s largest mobile network operator.
In Europe, Orange ranks 4th place after VEON, Telefonica and Vodafone.
Orange is a big telco player in Africa and the Middle East, with operations in 20 countries, among them Mali, Ivory Coast and Senegal.
