Orange Enters Exclusive Talks With BNP Paribas Over Banking Business
29 June 2023 - 3:53PM
Dow Jones News
By Mauro Orru
Orange is entering into exclusive negotiations with BNP Paribas
over the sale of Orange Bank as the group seeks to pull out of the
retail banking market.
The French telecommunications company said late Wednesday that
the talks would focus on the Orange Bank customer portfolio in
France, and the terms of a takeover of Orange Bank's business in
Spain.
Orange Bank carries a solid balance sheet with over two million
customers, said Orange Chief Executive Christel Heydemann, and the
process will have no impact on the group's financial targets
through 2025.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
June 29, 2023 01:38 ET (05:38 GMT)
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