Oct 12 (Reuters) – Orange (ORAN.PA) is contemplating “all alternatives” for its on-line banking arm following a report by French paper Les Echos on Wednesday that stated France’s largest telecoms firm was planning to promote Orange Financial institution.
“In a really extremely aggressive surroundings within the banking market, Orange is contemplating all alternatives to develop Orange Financial institution’s actions and help its development,” a spokesperson for the group informed Reuters.
Orange was keen to surrender management of its loss-making subsidiary, in line with media studies final yr, with BNP Paribas (BNPP.PA) seen on the time because the main candidate amongst French lenders.
Citing sources, Les Echos stated the telecom operator had mandated funding financial institution Lazard to launch a brand new sale or alliance state of affairs, which Orange declined to substantiate.
Reporting by Mathieu Rosemain, writing by Juliette Portala, enhancing by Tassilo Hummel, Kirsten Donovan
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