The State’s participation in Orange’s capital could change in the medium term – Univers Freebox

At a time when the State still holds 23% of Orange with Bpifrance, a reduction in its stake is possible.

“Orange, in the 2017 doctrine, is one of the companies where the evolution of State participation is possible”, such are the words Tuesday October 26 of Martin Vial, director general of the Agency of the participations of the State (APE) Vial during a presentation to the press of the report of the State shareholder.

In May 2017, Emmanuel Macron had already relaunched the debate by estimating that the participation of the State in the capital of Orange could ” to evolve “ because the historical operator “Is neither a company in the nuclear or defense sector, nor a company providing a public service in a monopoly”. In this context, the boss of the operator had not then ruled out the possibility for the State to be brought “ to consider a total or partial withdrawal from Orange ” , taking into account the situation of public finances and investment needs. Orange then said it was ready for this eventuality although it performs missions set by the government or local communities such as the deployment of fiber or 5G, but what is it today?

“There is no project at the date we speak concerning the capital of Orange ”, said the director general of the APE. Current largest shareholder of Orange with 13.4% of the capital without adding the 9.6% of the public bank Bpifrance, the State does not wish in any case “Destabilize the group’s shareholders” if he were to sell his shares. The question of future shareholders will inevitably arise.

The privatization of the incumbent operator is still a sea serpent today. In 2019, its CEO, Stéphane Richard, said in this regard on France Inter: “it’s good to have the state as a shareholder, it has many advantages, with some drawbacks at times, my job is to prepare the company for any eventuality. But this is not my wish, nor that of the Orange employees ”.

Source: AFP