Orange Withdraws From 45% Ethio Telecom Stake Bid Over Strategic Challenges
In a recent development, French telecommunications giant Orange has officially withdrawn from the bidding process to acquire a substantial 45% stake in Ethio Telecom, Ethiopia’s state-owned telecommunications operator.
The decision was communicated through a statement provided to Reuters , where Orange clarified its reasons for pulling out of the negotiations. The telecommunications firm highlighted that, upon careful analysis, it concluded that the prevailing conditions did not facilitate the swift execution of its strategic objectives nor ensure the successful realization of a project that could generate substantial value for the company.
