Orange: reduces its stake in BT group.

(CercleFinance.com) - Orange has announced that it has reduced its stake in BT Group plc (BT).


It will launch the sale of approximately 133 million shares held by its subsidiary Atlas Services Belgium in BT, or approximately 1.33% of the share capital, as part of a private placement.

BT will contribute 200 million pounds to the placement of BT shares, partly for the benefit of its Trust Employee Share Ownership, at the offering price. This order will be allocated in full by Orange.

Concomitantly, Orange has announced the issue of a bond exchangeable for BT shares, maturing in 2021, for a nominal amount of approximately 520 million pounds, with a premium of between 35% and 40% above the price of the share placement, as part of a private placement.


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