Holding: ORAN

Orange SA (ORAN)

Posted: June, 22, 2014

We recently closed our investment in Orange (formerly known as France Telecom) with an average selling price of $17 per ADR.  We initiated our position in April 2012 but made several additional purchases on price weakness to create an average cost basis of $10.50.  Additionally, we collected a very generous $3.10 in dividend distributions during the time we … Continue reading “Orange SA (ORAN)”

France Telecom (FTE)

Posted: June, 17, 2013

France Telecom will officially change its name to “Orange” (ticker: ORA) on July 1, 2013. Orange is the popular brand name used by France Telecom for most all of its commercial activities including their TV, cellular, and internet services. The name change was recently approved by France Telecom shareholders at their annual general meeting, with … Continue reading “France Telecom (FTE)”

France Telecom (FTE)

Posted: February, 24, 2013

The headlines in Reuters summarized the market’s opionion of our investment in France Telecom as the stock touched eleven year lows: France Telecom predicted no let-up in a price war squeezing its home market and said it would focus on costs to return to cash-flow growth next year. “The pressure on prices will be worse … Continue reading “France Telecom (FTE)”

France Telecom (FTE)

Posted: November, 6, 2012

France Telecom announced third quarter earnings on October 25th. The company reported a 3.5% fall in Q3 sales to €10.8bn, while earnings before interest, tax, depreciation and amortisation (EBITDA) fell 7.3% to €3.65bn. Perhaps more shockingly to retail investors, the company also reduced its dividend by 40% — largely because of an ongoing price war … Continue reading “France Telecom (FTE)”

France Telecom (FTE)

Posted: July, 27, 2012

France Telecom (FTE) is one of the largest telecommunications operators in the world. The company provides telecommunications, data transmission, internet, and other services to consumers, businesses, and other telecom operators. France Telecom has over 172,000 employees worldwide, with 105,000 of those based in France. France Telecom is present in 35 countries and has a customer … Continue reading “France Telecom (FTE)”

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