Orange seeks new investor for money-losing banking unit
Acquisition of new partner could lead to the sale of a controlling stake in Orange Bank
03 March 2021 - 15:50
Paris — Orange, France’s biggest telecoms group, is looking for a new investor in its banking unit as it seeks to mitigate the four-year-old division’s heavy losses, according to an informed source.
CEO Stéphane Richard trumpeted the launch in 2017 of Orange Bank as a key strategic step towards diversification of revenue streams for the group, which faces tough competition from rivals in France and Spain, its two biggest markets...
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