Orange says all options on table to sell online banking unit

Orange is considering “all opportunities” for its online banking arm following a report by French paper Les Echos on Wednesday that said France’s biggest telecoms company was planning to sell Orange Bank.

“In a very highly competitive environment in the banking market, Orange is considering all opportunities to develop Orange Bank’s activities and support its growth,” a spokesperson for the group told Reuters.

Orange was willing to give up control of its loss-making subsidiary, according to media reports last year, with BNP Paribas seen at the time as the leading candidate among French lenders.

Citing sources, Les Echos said the telecom operator had mandated investment bank Lazard to launch a new sale or alliance scenario, which Orange declined to confirm. Reuters