Polygon fund deems buyout price for telecoms operator Orange Belgium still too low

Orange Belgium NV

01/02/2021 07:15

PARIS, Feb 1 (Reuters) - Investment company Polygon Global
Partners LLP said on Monday that it believed French telecom
company Orange's  ORAN.PA  buyout offer for Orange's Belgian
unit was still too low, and added it had hired a financial
advisor on the matter.
    "Polygon remains supportive of the strategy pursued by
Orange Belgium and continues to believe that a price of 22 euros
($26.67) per share would substantially undervalue the company on
a standalone basis," it said in a statement.
    Polygon, which holds around 5.3% of Orange Belgium's share
capital, said it had hired investment bank Ondra to examine its
options regarding Orange Belgium. French telecoms group Orange
owns 52.9% of Orange Belgium.  urn:newsml:reuters.com:*:nL1N2II31Z

($1 = 0.8249 euros)

 (Reporting by Sudip Kar-Gupta, editing by Louise Heavens)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))