Orange S.A. (NYSE:ORAN) Holdings Cut by Fmr LLC

On July 15, 2021, Orange S.A., a Spanish telecommunications company, announced that its subsidiary, Orange Business Services (OBS), had been cut by Fmr LLC, a private equity firm. The exact amount of the cut was not disclosed, but it is believed to be significant.

Fmr LLC had previously invested in OBS in 2019, with the goal of expanding its operations and increasing revenue. However, it appears that the investment did not yield the expected results, leading Fmr LLC to cut its stake in the company.

Orange S.A. has been facing challenges in recent years, including increased competition in the telecommunications industry and regulatory hurdles. The company's stock price has also been declining, with a market capitalization of €12.5 billion as of July 15, 2021.

It is unclear what impact this cut will have on Orange S.A. and OBS moving forward. However, it is likely that the company will need to find alternative sources of funding to continue its operations and growth plans.