The French government will reduce its holding in telecom operator Orange via a secondary share sale this week.
France will sell a portion of its stake in Orange SA (ORANY) through a secondary share offering scheduled for Thursday. The state shareholding agency APE and Bpifrance, which together hold the largest share in the company, are leading the transaction.
The government currently owns approximately 23% of Orange, following previous divestments. No details on the size of the sale or pricing have been disclosed. The move follows similar state asset sales in recent years as France seeks to reduce public holdings.
Shares of Orange have traded relatively stable ahead of the announcement, with no immediate market reaction reported.