Orange: begins to sell residual shares in BT group
(CercleFinance.com) - Orange has announced the sale of its remaining stake in BT Group, or about 248 million shares, i.
e. 2.5% of the British telecoms operator's share capital, through a private placement by accelerated book building.
BT Group will participate in the placement by making an irreducible purchase order of 80 million pounds at the price of the placement. At the end of the placement, Orange will hold no more BT Group shares and will have no further financial exposure to these shares.
The placement is intended for institutional and professional investors. The final terms will be determined following the accelerated book building. The settlement-delivery of the placement is scheduled for 2 July.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
e. 2.5% of the British telecoms operator's share capital, through a private placement by accelerated book building.
BT Group will participate in the placement by making an irreducible purchase order of 80 million pounds at the price of the placement. At the end of the placement, Orange will hold no more BT Group shares and will have no further financial exposure to these shares.
The placement is intended for institutional and professional investors. The final terms will be determined following the accelerated book building. The settlement-delivery of the placement is scheduled for 2 July.
Copyright (c) 2019 CercleFinance.com. All rights reserved.