Orange Sp/Adr (ORANY) Q1 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:03.938 Hello to all of you. Welcome to Orange Q1 2026 00:00:03.938 -- 00:00:09.287 Results Conference. For your information, this conference will be recorded. 00:00:09.287 -- 00:00:14.356 The call today will be hosted by Christelle Edman, our CEO, Laurent Martinez, 00:00:14.356 -- 00:00:19.484 our CFO, with other members of Orange Executive Committee for the Q&A 00:00:19.484 -- 00:00:23.792 session after the presentation. So let's start with the presentation. 00:00:23.792 -- 00:00:27.385 Christelle Edman, the floor is yours. 00:00:27.385 -- 00:00:31.811 Good morning. Thank you for joining our Q1 results presentation. 00:00:31.811 -- 00:00:36.276 Before getting into our Q1 results, I would like to mention that last week in France, 00:00:36.276 -- 00:00:40.461 we announced entering into exclusive negotiation with the Altice France Group for the 00:00:40.461 -- 00:00:45.308 acquisition of SFA, jointly with Boot Telecom and the Free Iliad Group. 00:00:45.308 -- 00:00:49.953 Our joint offer reflects a total enterprise value of 20.35 00:00:49.953 -- 00:00:54.065 billion euros for the Altice France assets under consideration. 00:00:54.065 -- 00:00:59.292 Orange's share within the split of price and value between buyers would be around 27%. 00:00:59.292 -- 00:01:04.379 This transaction would help sustain and strengthen the entire digital economy 00:01:04.379 -- 00:01:07.223 and the telecommunications sector in France. 00:01:07.223 -- 00:01:11.850 There is no certainty, though, that this process will result in an agreement. 00:01:11.850 -- 00:01:17.457 In parallel, in Spain, we already received the approval of the antitrust authorities, 00:01:17.457 -- 00:01:22.184 and we are confirming a closing of Mass Orange's transaction in Q2. 00:01:22.184 --...