BT to Repurchase GBP200 Million Shares From Orange

Date : 20/06/2017 @ 03:24
Source : Dow Jones News
Stock : Orange (ORAN)
Quote : 16.68  0.0 (0.00%) @ 22:16
Orange share price Chart

BT to Repurchase GBP200 Million Shares From Orange

Orange (NYSE:ORAN)
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LONDON--British telecommunications services company BT Group PLC said Monday it will repurchase up to 200 million pounds ($255.46 million) worth of shares from French telecommunications company Orange.

Orange intends to offer around 133 million shares in BT to investors via an accelerated book build offering.

BT said it will participate in the offering and will repurchase GBP125 million shares. Separately, it intends to fund the repurchase of GBP75 million shares by the trustee of the company's employee share ownership trust.

Shares BT on Monday closed at 290 pence each.

 

Write to Tapan Panchal at tapan.panchal@wsj.com

 

(END) Dow Jones Newswires

June 19, 2017 13:09 ET (17:09 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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