Orange to launch Africa and Middle East IPO?
Orange is reportedly considering launching an IPO of its African assets in order to raise funds for its European business.
According to Bloomberg, the French operator is in the early stages of considering a separation of its African assets. The IPO may also include its Middle East assets.
Orange’s African and Middle East business covers 18 markets, with sales in the region rising by 9% in the last quarter to $1.4 billion.
In April, the company was rumoured to have put its Kenyan subsidiary up for sale, following a month-long review of its operations in the country. This was denied by the company later that month and an expansion of its national 3G network was subsequently announced.