Orange Weighing IPO of Africa, Middle East Phone Assets - Bloomberg:
"Orange SA (ORA), France’s largest phone company, is considering a separation of its African assets in an initial public offering to free up funds to bolster its European business.
No details nor timing have been decided, as the considerations are still at an early stage, a spokesman for Paris-based Orange said by phone. The company may include its Middle East assets in the IPO.
The assets that may be split off include holdings in carriers that have about 100 million subscribers in countries from Egypt to Mali, many of them Orange’s fastest-growing businesses. An IPO would give Orange funds to cut debt and pursue acquisitions as its cash flow in Europe is hurt by falling phone bills amid price wars."
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