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.
Mobile World Live brings you our top three picks of the week as Apple unveiled its device leasing programme, Orange struck a data centre JV deal and Amazon Leo plotted expansion.
Amazon Leo readies 5K satellites for D2D plan
What happened: Amazon Leo applied to the US Federal Communications Commission (FCC) to deploy up to 5,105 direct-to-device (D2D) satellites, advancing its ambition to deliver voice, messaging, data and emergency connectivity services to standard mobile devices.
Why it matters: In its FCC filing, Jeff Bezos-backed Amazon Leo explained its D2D system would communicate directly with existing mobile hardware using dedicated L-band and S-band spectrum links, potentially setting the stage to better compete against SpaceX’s Starlink service, among others.
“The newly filed application for Amazon’s next-generation LEO D2D constellation is massive,” said independent consultant Carlos Placido. “Although the system is planned to deploy 5,105 satellites beginning in 2028, the filing defines a total of 11,045 orbital positions.”
What happened: Apple fleshed out Apple Upgrade, a direct-to-consumer hardware leasing programme backed by Klarna Group, offering US customers monthly payment options across its iPhone, Apple Watch, Mac, and iPad product lines.
Why it matters: Apple confirmed the programme offers dual tenure options per category. iPhone and Apple Watch plans offer 12- and 24-month lease terms starting at $17.99 and $11.99 per month, respectively. CEO and marketing director of PP Foresight Paolo Pescatore stated the arrangement responds to rising device prices and longer consumer ownership cycles by shifting focus from high upfront costs to manageable monthly payments, making premium devices feel more accessible and encouraging regular upgrades.
“However, this is more than another payment option,” he said. “It marks a significant shift from owning devices to accessing them through an ongoing leasing relationship. This gives Apple another way to stimulate demand without resorting to aggressive discounting, while keeping customers within its family of products and exerting greater control over the upgrade, trade-in and return cycle.”
On the consumer front, he explained lower monthly payments will be attractive, but the apparent flexibility carries important trade-offs. Customers do not own the product during the lease, AppleCare costs extra, damaged devices can incur charges, and upgrading or leaving early could require them to pay the remaining lease payments.
“The total cost and end-of-term choices must therefore be made crystal clear,” he said. “Otherwise, consumers could find themselves locked into a perpetual cycle of monthly payments without building any ownership or resale value.”
What happened: Orange agreed a deal with global infrastructure investor Morrison to create a jointly controlled data centre company in France, a move designed to meet rising demand for AI services in the country.
Why it matters: Orange said the 50:50 JV will support the development of its existing French data centre portfolio and target 400MW of capacity, almost 10 times its current level. To boost the entity, the operator said it will contribute five major data centres across four campuses in France, along with its operational expertise and commercial reach. The duo anticipate an investment of around €3 billion, utilising Orange’s existing assets, while Morrison will make an equity contribution.
“Orange Business will leverage this platform for its customers to accelerate its trusted AI and trusted cloud business ambitions,” Orange CEO Christel Heydemann explained on an investor call. “The value creation for Orange will therefore materialise through revenue upsides and dividends inflows.”
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