Feeds

Orange has plums squeezed. Market yelps too

And France Telecom had gone to so much trouble

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Well, after all the fuss, a huge cut in issue price and more general nonsense, the Orange float has been a flop. It's currently sitting at six per cent below the issue price of 10 euros. At times it was nearly eight per cent below.

Every financial journalist and analyst now suddenly knows that it was going to be a failure all along, because after all people are still worried about the cost of 3G and, er, it's a bad time for mobile companies. The fact is that France Telecom cut such a wedge off its own company's valuation that it comes as a surprise that the float isn't a success. We still reckon France Telecom should have held off, but then it probably needed the £6.5 billion the IPO raised.

Worse than this, Orange's poor performance has dragged down other tech stocks. France Telecom suffered of course - 6.6 per cent down and to a 16-month low. Nokia was down 2.5 per cent, Sonera 3.6 per cent, Vodafone 1.6 per cent, BT 3.7 per cent. Bookham chip-maker was down 10 per cent, Deutsche Telekom down 5.5 per cent, KPN 5.1 per cent, the list goes on and on.

The future may still be bright but the last two days and the next few weeks look dark for Orange. ®

Related Stories

Orange finally valued
Orange now worth even less
Orange gets cheaper by the day

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
America's super-secret X-37B plane returns to Earth after nearly TWO YEARS aloft
674 days in space for US Air Force's mystery orbital vehicle
10 Top Tips For PRs Considering Whether To Phone The Register
You'll Read These And LOL Even Though They're Serious
prev story

Whitepapers

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.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.