Orange says all choices on desk after report on plans to promote on-line banking unit

Oct 12 (Reuters) – Orange (ORAN.PA) is contemplating “all alternatives” for its on-line banking arm following a report by French paper Les Echos on Wednesday that mentioned France’s greatest telecoms firm was planning to promote Orange Financial institution.

“In a really extremely aggressive setting within the banking market, Orange is contemplating all alternatives to develop Orange Financial institution’s actions and assist its development,” a spokesperson for the group advised Reuters.

Orange was keen to surrender management of its loss-making subsidiary, in keeping with media stories final 12 months, with BNP Paribas (BNPP.PA) seen on the time because the main candidate amongst French lenders.

Citing sources, Les Echos mentioned the telecom operator had mandated funding financial institution Lazard to launch a brand new sale or alliance situation, which Orange declined to substantiate.

Reporting by Mathieu Rosemain, writing by Juliette Portala, enhancing by Tassilo Hummel, Kirsten Donovan

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