French Telecom Titan Orange SA to sell Niger subsidy

by   |  VIEW 1416

French Telecom Titan Orange SA to sell Niger subsidy

On Sunday, the 20th of October 2019, a spokesman for the French telecommunication titan, Orange SA, formerly known as France Télécom S.A., a 22.95 per cent stake of which was owned by the French Government and headquartered in Paris, made an announcement saying that the French telco tycoon would be selling off its businesses in Niger, a landlocked country in the Western Africa named after the River Niger that was consistently being ranked at the bottom of the human development index.

Meanwhile, the spokesman for Orange Niger, Roni Alhassane, had also added on Sunday (October 20th) that the company was in an advanced-stage talk with a buyer, Zamani Com SAS, about settlement of debts alongside some unpaid taxes.

In point of fact, a likely departure of Orange in Niger, one of the poorest countries across the globe, had been grievously hurt by a difficult market condition, where the company had been failing to grapple with an operational expense per benefit ratio amid an intensifying economic crisis in the Western African country.

Apart from that, earlier this year, Orange Niger had announced that the French Orange subsidy had been exploring every potential option including a sale, while at the same time, a court of Niger had appointed an expert in order to assess the situation and help Orange smooth up its talks with the creditors, which still remained a key concern for a potential sell off of Orange Niger to Zamani Com SAS. Nonetheless, financial terms of the deal had yet to be disclosed, media reports revealed later this week.