Sponsored By

France Telecom repurchases 103 million Orange shares from E.ON

June 6, 2002

1 Min Read

PARIS -- Under the terms of put and call options entered into in November 2000 and amended in January 2002, the E.ON group today exercised its option to sell approximately 103 million Orange shares to France Telecom. These shares were attributed to E.ON as consideration for the transfer of its stake in Orange Communications S.A. (Switzerland) to Orange S.A. Under terms of the options agreement as amended in January 2002, France Telecom has purchased these shares for 950 million euros. In view of the current Orange share price, France Telecom does not intend to sell these shares on the market. Orange Communications SA, based in Lausanne, is fully owned by Orange S.A., a member of the France Telecom Group. On June 29, 1999, Orange Switzerland became the third operator in the Swiss market. It's network currently covers more than 98 percent of the country's population. France Telecom SA Orange SA

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like