Telecom Operator Announces Delisting Plans
French telecom operator Orange announced on Wednesday its plan to delist its shares from the New York Stock Exchange (NYSE). The company cited the financial burden associated with maintaining a secondary listing as the primary reason for this decision.
In a press release, Orange stated, “The decision to voluntarily delist from the NYSE and to deregister from the SEC was made after careful consideration by the board of directors.” The company noted that it had taken into account the substantial financial and administrative requirements involved in keeping the NYSE listing and SEC registration.
Streamlining Operations for Efficiency
Orange aims to simplify its internal operations and improve efficiency with this move. The company emphasized that the delisting from the NYSE will not affect its U.S. clients or partners, nor will it impact its presence in the U.S. market.
In addition to the delisting, Orange announced that it would also deregister two sets of debt securities that were previously issued on the NYSE.
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