By Mauro Orru
Orange said Tuesday that it has launched a takeover bid for its Belgian subsidiary Orange Belgium SA at a price of 22 euros ($26.21) a share.
The French telecommunication company said it launched the offer on April 8, nearly four months after it unveiled plans for a bid at EUR22 a share valuing Orange Belgium at around 1.32 billion euros ($1.57 billion) in its entirety.
Orange holds almost 53% in Orange Belgium, according to FactSet.
"Orange does not intend to change the price of its offer and considers that this transaction offers all shareholders of Orange Belgium a unique opportunity to monetize their equity interest on attractive terms," the company said in a statement.
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(END) Dow Jones Newswires
April 13, 2021 03:06 ET (07:06 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.