French state investment bank Bpifrance sold a 2.5% stake in Orange for approximately €1.1 billion, but maintained its position as the operator’s largest shareholder.

In a statement, the investment bank disclosed it successfully placed 66.5 million shares at a price of €16.57 each, a move made in conjunction with the state.

Following the transaction, it separately holds approximately 7.1% of share capital and 5.9% voting rights.

Acting jointly as the group’s shareholder with the French state, the duo hold a stake of approximately 20.4% and 27% of voting rights. Board representation remains unchanged.

Reuters first reported the French stake was planning to sell a small stake in Orange yesterday (30 July).

“Bpifrance reiterates its support and confidence in the Orange management team and in the strategy pursued within the framework of its Trust the Future plan,” the investment bank added.

Orange CEO Christel Heydemann laid out the five-year strategy in February, focusing priorities on customer growth, AI investment and monetising infrastructure assets.

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Singtel confirmed it was in discussions over selling a stake in Australian subsidiary Optus following media speculation infrastructure investor Morrison is eyeing a holding in the business.

In a brief announcement, Singtel stated it is in talks with interested parties, but added there is no certainty any transaction would occur.

It pointed to a previous statement indicating a willingness to collaborate with “an Australian minority partner” while reinforcing its commitment to Optus following a series of high-profile network outages which damaged the unit’s reputation.

Singtel’s latest statement appears to be a response to an Australian Financial Review report claiming New Zealand-based investor Morrison had entered a seven-week exclusivity period to acquire a 30% stake in Optus.

The outlet reported Morrison is looking for additional investors to take part in the project, pitching a potential deal as a way to “bring Optus home”.

This week, Morrison struck a deal with Orange to set up a data centre joint venture in France at a cost of around €3 billion.

ACMA probe
Separately, the Australian Communications and Media Authority (ACMA) commenced court proceedings over an Optus network outage in September 2025 which affected users’ ability to contact emergency services.

ACMA alleges Optus breached two separate legal obligations on 1,005 occasions, failing to: give end users who made emergency calls access to emergency services; and ensure those emergency calls were carried to the relevant termination point.

If found guilty, Optus could be in line to pay a maximum penalty of AUD250,000 ($174,413) per contravention.

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Bell Canada highlighted a growing problem with unauthorised removal of legacy equipment, reporting copper theft rose almost 80% year-on-year in H1 2026.

The operator stated the problem is most acute in the provinces of Ontario and New Brunswick but highlighted the dangers copper theft presents in any area due to the impact on critical communication services.

EVP and CTO Mark McDonald said tackling the problem requires “coordinated action” by operators, government, police and recycling companies.

He wants criminals to be held to account and highlighted stolen copper can result in “service outages that can endanger public safety, particularly by disrupting access to emergency services”.

Bell recorded 993 cases of copper theft or vandalism, up 78% year-on-year. It is fighting back by installing alarms to alert local police, upping surveillance and taking legal action against thieves.

It noted some pay-off, with arrests up 32% and brace of recent “favourable” court decisions.

Bell argued there is little monetary value in scrap copper, but emphasised the potentially big societal cost.

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One NZ advised businesses to rethink their approach to responsible AI after research showed consumers are growing worried about the environmental impact of companies’ use of the technology.

Research by the operator involving 1,001 New Zealanders found 45% have concerns over the sustainability of business use of AI, making it a key factor alongside transparency and privacy in overall trust ratings.

Head of corporate affairs and sustainability Nicky Preston said One NZ’s findings “highlight a shift” in attitudes.

“The conversation around AI has largely focused on productivity and innovation to date. But this research shows New Zealanders are starting to consider a broader question”.

Preston noted trust “has always been fundamental to technology adoption” and said sustainability is now part of the “equation”.

One NZ’s research found those worried about environmental impacts believe businesses should prioritise using renewable energy alongside cutting power consumption.

Consumers also want companies to be transparent about the environmental impacts, explain their reasons for employing AI and be open to independent audits.

“Customers and employees increasingly want evidence that organisations are managing AI responsibly through governance, infrastructure choices, supplier decisions and thoughtful deployment,” Preston explained.

The research highlighted consumption of electricity and water as key environmental concerns. Other factors include electronic waste and carbon emissions.

One NZ highlighted more traditional concerns about AI continue to rank highly: it noted respondents are worried about the technology taking jobs away from people, personal data being employed without consent and a lack of human oversight.

Preston said the findings indicate the businesses likely to be the most successful in using AI would be those which show they are “thinking carefully” about social and environmental impacts.

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Bain Capital and Tillman Global Holdings revealed a $1.5 billion investment in Eaton Fiber to accelerate the expansion of Verizon fibre broadband to more than 1 million locations outside the operator’s existing US footprint.

Eaton Fiber is an affiliate of Tillman which serves as Verizon’s exclusive wholesale fibre-building partner

The investment fully funds Eaton Fiber’s acquisition of Ripple Fiber, a fibre-optic internet provider, alongside the next phase of Eaton Fiber’s network expansion.

The Ripple Fiber deal marks the first step in a buy-and-build strategy aimed at bringing Verizon fibre broadband to more locations through a combination of organic construction and further acquisitions.

Ripple Fiber’s existing shareholders, Platform Investment Partners and KLT, will continue backing the Eaton Fiber platform alongside Tillman and Bain Capital.

The deal builds on a commercial agreement between Verizon and Eaton Fiber fannounced in October 2025, under which the latter funds, builds, maintains and operates fibre network infrastructure, while Verizon serves as the exclusive retail provider for residential and small business fibre services, handling sales, marketing and customer service.

Verizon CEO Dan Schulman stated expanding Verizon fibre’s reach is central to the company’s growth and convergence strategy, describing the partnership as a capital-efficient model to extend its fibre broadband experience beyond its core footprint.

As part of the transaction, Verizon will acquire Ripple Fiber’s existing customers, who will transition to Verizon’s fibre broadband platform over time with uninterrupted service, along with a small portion of Ripple Fiber’s network and related assets adjacent to or partially within Verizon’s existing footprint in North Carolina and South Carolina.

Tillman co-president and Eaton Fiber co-founder Sachit Ahuja said the Ripple Fiber acquisition strengthens Eaton Fiber’s relationship with Verizon, while Bain Capital’s long-term capital provides additional resources to accelerate deployment.

Ripple Fiber founder and chief executive Greg Wilson said the acquisition positions the company to accelerate its mission of connecting homes and businesses to fibre using its experience operating wholesale networks.

The transaction is expected to close before the end of 2026, subject to customary closing conditions and regulatory approvals.

Eaton Fiber has secured committed debt financing from a syndicate led by Societe Generale and SMBC, alongside existing financing partner Future Standard Digital Infrastructure.

Verizon, AT&T and T-Mobile US are actively beefing up their fibre holdings through joint ventures, wholesale agreements and outright purchases of fibre-rich companies to support the convergence of mobile and fibre-based broadband services.

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