IFLR1000

Orange £520 million divestment of shares in BT

21/6/2017
Divestment
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£ 520 million

$ 672 million

Completed

21/6/2017

Overview:

  • Orange has sold £520 million of shares in BT.
  • Around 133 million shares from Atlas' subsidiary Atlas Services Belgium are being sold.
  • BT will raise £200 million from the share sale.
  • Orange has simultaneously offered £520 million 0-0.375% exchangeable bonds due 2021.
  • BNP Paribas and JPMorgan were global coordinators and joint bookrunners.

Katrin Kostadinova - Data analyst

Jurisdiction:

United Kingdom

Deal type:

Divestment

Practice area:

M&A

Governing law:

England and Wales

Industry sector:

Technology and telecommunications

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