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Bulletin: Orange Gains Financial Flexibility For Investments And Dividends Thanks To €2.2 Billion In Recovered Taxes

Published Dec 15, 2020

2 pages (1141 words) — Published Dec 15, 2020

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Abstract:

PARIS (S&P Global Ratings) Dec. 15, 2020--S&P Global Ratings today said that Orange S.A. (BBB+/Stable/A-2) has greater financial flexibility to fund new initiatives and slightly higher rating headroom thanks to recovering €2.2 billion after settling a tax dispute with the French Council of State. Based on parallel announcements from Orange, we anticipate that the company will use over half of these funds to: Acquire the outstanding minority interests in Orange Belgium; Make a special dividend of 20 cents per share; and Explore a share scheme totaling about 30 million shares to support an increase in employee ownership toward a long-term objective of 10%. We assume these expenses will accrue to 2021 and that the remaining funds will support network deployment,

Report Type:

Bulletin

Ticker

FTE@FP

Issuer

Orange S.A.

GICS

Integrated Telecommunication Services (50101020)

Sector

Global Issuers, Structured Finance

Country

France

Region

Latin America

Format:

PDF

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Orange Gains Financial Flexibility For Investments And Dividends Thanks To €2.2 Billion In Recovered Taxes" Dec 15, 2020. Alacra Store. May 09, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Orange-Gains-Financial-Flexibility-For-Investments-And-Dividends-Thanks-To-2-2-Billion-In-Recovered-Taxes-2570666>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Orange Gains Financial Flexibility For Investments And Dividends Thanks To €2.2 Billion In Recovered Taxes Dec 15, 2020. New York, NY: Alacra Store. Retrieved May 09, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Orange-Gains-Financial-Flexibility-For-Investments-And-Dividends-Thanks-To-2-2-Billion-In-Recovered-Taxes-2570666>

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