Orange invests €15 bln in Affiliates within 5 Years

Orange S.A., the French multinational telecommunications corporation, is to pump € 15 billion in its affiliates within the five upcoming years Stéphane Richard- Chairman and CEO- said Thursday.

Richard told Amwal Al Ghad that Orange’s total debts volume estimated at € 27 billion, assuring that this volume is very suitable compared to company’s revenues and assets.

He added that company’s total annual revenues reach € 40 billion used to re-pump investments in Orange’s affiliated companies.

The annual net profits record around € 12 billion, the chairman elaborated.

During his first visit to Egypt, Richard affirmed that the debt volume did not cause any financial obstacles for the company.

Furthermore, the CEO clarified that the company follows an expansion plan in Middle East and North Africa backed by enormous growth rates in technology and cell phones usage that Arab countries witness.

He also assured that Orange S.A. is going to terminate its works in Israel within the upcoming period.

Moreover, Stéphane justified cancelling business in Israel to economic factors- not political- confirming that Orange does not have any operating activities inside Israel other than trade marking Israel’s Partner company with Orange S.A. name.