Orange Enters Exclusive Talks With BNP Paribas Over Banking Business
Provided by
Dow Jones
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)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth