Orange, a French Telecommunication company, is preparing for an Initial Public Offer (IPO) for its businesses in Africa and Middle East.
Bloomberg reports that the company is targeting the London and Paris stock exchange, although it is seeking advice from BNP Paribas and Morgan Stanley on the viability of the IPO. No final decision has been made about the move.
According to the telco, its Middle East and Africa units reported $1.8 billion of adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) last year.
Orange is a French multinational telecommunications corporation. It has 266 million customers worldwide and employs 89,000 people in France, and 59,000 elsewhere. It is the tenth largest mobile network operator in the world and the fourth largest in Europe after Vodafone, Telefonica and VEON.
Orange has a presence in about 20 countries across Africa and the Middle East, with major markets including Senegal, Ivory Coast and Mali.