France’s Orange considering IPO of Middle East, Africa operations

People are seen as they walk pass Orange telecommunication company office in Dakar, Senegal December 19, 2016. REUTERS/Afolabi Sotunde

PARIS (Reuters) – French telecoms group Orange is considering a possible stock market flotation of its combined Middle East and Africa operations, Orange said on Thursday.

“Orange has decided to bring together all our regional activities in a single company, OMEA, to create a separate entity and provide the Group with various options for growth,” Orange said in a statement.

“An IPO of OMEA is one of these potential scenarios, and the decision will depend on a number of factors, including strategic opportunities and market orientation, always with the central criterion of accelerating the growth of this business,” it said.

Reporting by Sudip Kar-Gupta; editing by Jason Neely

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