France to remain reference shareholder in Orange: Macron

January 7, 2016

The French state plans to remain a key shareholder in Orange and would assess any planned tie-up with rival Bouygues Telecom in terms of consumer protection, jobs and investment, French Economy Minister Emmanuel Macron said on Wednesday.

Macron, attending the start of the winter discount sales at a shopping mall in Paris, said in response to questions from reporters: “There’s a straightforward list of criteria – investment, jobs and consumer protection. I will assess the telecoms (firms) on that basis.

“On the other hand, the state as a shareholder will assess value creation and the state intends to remain a reference shareholder in the Orange group,” he said. (Reuters

With Orange (ORAN -0.1%) pursuing a tie-up with Bouygues Telecom (OTCPK:BOUYY) — and a reduction in France’s wireless market to three firms from four — France plans to remain a key shareholder.

The two companies confirmed they were discussing a €10B mostly-stock deal for Orange to buy Bouygues’ telecom operations. (Seeking Alpha)

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