Orange £520 million divestment of shares in BT

Overview:

• Orange has sold £520 million of shares in BT.
• Around 133 million shares from Atlas' subsidiary Atlas Services Belgium are being sold.
• BT will raise £200 million from the share sale.
• Orange has simultaneously offered £520 million 0-0.375% exchangeable bonds due 2021.
• BNP Paribas and JPMorgan were global coordinators and joint bookrunners.

Katrin Kostadinova - Data analyst