Close
Close

Published

Orange cuts and runs from UK, as BT shares fall

Orange has cut and run out of its shareholding in British Telecom, after a year of share price nose dives caused by Brexit, job cuts and an Italian accounting scandal. Today BT is worth just £28 billion and its share price is at £281, while when the deal for BT to buy EE, which led to a 4% Orange shareholding its share price was £433. Orange received £3.4 billion in cash and a 4% stake in the combined BT/EE entity for its half of EE. Deutsche Telekom did a similar deal, but made it clear that it was happy to remain a long-time partner for BT. The deal is a complicated one, selling a third of its stock to BT…

Close