France’s Orange withdraws from process to buy stake in Ethio Telecom

28 November 2023, 12:00 am

1 min read

The logo of French telecom operator Orange is pictured in Brussels, Belgium May 22, 2023. REUTERS/Yves Herman

Reuters was first to report that French telecoms firm Orange (ORAN.PA) told Reuters on Monday that it had decided to withdraw from the process to purchase an up to 45% stake in Ethiopian operator Ethio Telecom. Orange submitted an expression of interest in 2021 to participate in the partial privatisation of Ethio Telecom, a former monopoly with more than 70 million subscribers.