Orange Belgium: Falls as Orange reiterates EUR 22/shr offer price

Orange Belgium NV

13/04/2021 10:59

** Shares in Orange Belgium  OBEL.BR  drop 5% after its
parent Orange  ORAN.PA  confirmed the price for Orange Belgium's
shares
    ** Orange said on Tuesday it does not intend to change the
price of 22 euros per Orange Belgium's share  urn:newsml:reuters.com:*:nFWN2M515B
    ** According to Stifel analyst Stephane Beyazian, Orange
made it clear today despite some investors expecting a raise and
the shares trading above 23 euros lately
    ** Ruben Devos from KBC Securites doesn't see Orange gaining
95% of shares by the end of the offer period on April 23
    ** Devos says the group has three options: to withdraw its
bid, to drop the objective to gain 95% of shares or to raise its
offer price 
    ** The second option is a plausible scenario, says Ruben
Devos, adding that in that case Orange Belgium would remain
listed but liquidity would be far from optimal
    ** Polygon Global Partners LLP, which holds over 5% stake in
Orange Belgium, said on Monday it believed that the offer
substantially undervalues the firm on a standalone basis
 urn:newsml:reuters.com:*:nFWN2M50BD
    ** According to Polygon, the company is worth more than 40
euros per share 
    ** The shares of the French telecom are down 1.5%






 ((anait.miridzhanian@thomsonreuters.com))