Feeds

Orange finally valued

10 euros a share or £30.8bn in total

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

Orange has finally announced its float price for today's IPO: 10 euros a share, which values the company at £30.8 billion.

The 10 euro price is just above the mooted 9.5 euro figure last week when the mobile phone company surprised many by saying it may knock a further sixth of its value (it had already reduced the price by 15 per cent).

The £31 billion price tag is somewhat lower than what France Telecom reckoned the company was worth when it bought it off Vodafone. Then, it claimed Orange was worth between £64 billion and £96 billion. We think that France Telecom may be doing itself an injustice by floating now but it seems determined - indeed, it obviously feels that showing such determination will make it out to be a strong company. Unfortunately, a lot of people see it the other way - perhaps even desperation.

The share options have been popular however: two-and-a-half times oversubscribed. But then they will be paying 9.5 euros a share and with Orange probably undervalued, they look like a good bet. Three-quarters of the shares (which will account for around 15 per cent of Orange in total) will go to the institutional investors and plain ole Joes will get the rest.

The float will kick off at 1pm Greenwich time on Tuesday in both Paris and London. We'll keep an eye on it. ®

Related Stories

Orange now worth even less
Orange gets cheaper by the day

Internet Security Threat Report 2014

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.