Feeds

Orange gets cheaper by the day

Shares at a knockdown price

  • alert
  • submit to reddit

Securing Web Applications Made Simple and Scalable

Orange still seems determined to go ahead with its 10-15 per cent float, even though it is likely to be valued at less than half of what was expected in May 2000. In fact, it is so determined that large investors are being offered a five per cent discount in the hope of shoring the float up.

It is expected to be valued between E55 billion and E65 billion (£35 billion and £42 billion) when it floats next month. This compares with the E100-150 billion predicted by France Telecom when it bought the business from Vodafone.

A braver Orange would delay the float - especially since telecoms stocks are in a bad state at the moment - but as many people are beginning to find, Orange is no longer the company it was. Seeing as the decision to go ahead is clearly taken at the top, it's not pushing things too much to tie the decision in with the Gallic arrogance of France Telecom.

Confidence in Orange has been shaken since the departure of well-respected Hans Snook as CEO and the arrival of France Telecom yes-men after the company bought Orange. France Telecom is very much in the mould of the other two giant telecoms companies in Europe - BT and Deutsche Telekom. In fact, it would be an interesting three-way battle for which is the most blinkered and over-confident.

How the shares will fare is anyone's guess, but without the key figure of Snook comforting and reassuring investors and journalists alike, France Telecom will have to pull its finger out. New head and frenchman Jean-Francois Pontal has not been out doing the canvassing which is virtually career suicide when a big float is near. Not bright. ®

Related Story

Snook is off
Orange reshuffle brings in France Telecom exec
Orange kills top-up cards in favour of mobile credit cards

The Essential Guide to IT Transformation

More from The Register

next story
EU's top data cops to meet Google, Microsoft et al over 'right to be forgotten'
Plan to hammer out 'coherent' guidelines. Good luck chaps!
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
FLAPE – the next BIG THING in storage
Find cold data with flash, transmit it from tape
Seagate chances ARM with NAS boxes for the SOHO crowd
There's an Atom-powered offering, too
Intel teaches Oracle how to become the latest and greatest Xeon Whisperer
E7-8895 v2 chips are best of the bunch, and with firmware-unlocked speed control
Gartner: To the right, to the right – biz sync firms who've won in a box to the right...
Magic quadrant: Top marks for, er, completeness of vision, EMC
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.