Orange reportedly deemed its 40% stake in Mauritius Telecom as not core to its business and is weighing up options to sell its shares.
Bloomberg reported, the French operator group discussed with advisors about a potential exit, but hasn’t presented a share buyback deal with the board of Mauritius Telecom yet. A decision could potentially be made in November, said a source speaking to Bloomberg.
Orange declined to comment when Developing Telecoms contacted for a statement.
Sources noted the Orange brand was dropped and renamed MyT, and shares in Mauritius Telecom has become less strategic for the group and its influence has waned.
Orange’s predecessor France Telecom acquired the shares in Mauritius Telecom in 2000 for US$261 million through Rimcom Ltd.
Other owners of Mauritius Telecom include the Mauritian government and the National Pensions Fund, which hold 40%, and state-owned SBM Holdings with 19%.
