Orange sells stake in BT

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Orange announces sale of BT stock

Sale comes amid BT’s restructure under Philp Jansen

French telecom Orange has announced that it has sold its 2.5 per cent stake in BT for £486 million.

Orange launched the sale of its 248 million shares in BT on Thursday July 27, offering them to eligible and qualified investors.

BT has itself acquired 41 million shares during the sale.

Orange gained the stake when BT bought EE in 2016. EE was established as a joint venture between Orange and Deutsch Telekom in 2010.

The sale comes amid BT’s continuing restructuring under new chief executive Philip Jansen, which includes a new logo and closing 270 offices.

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