(Reuters) – French telecom operator Orange announced on Wednesday its intention to delist its shares from the New York Stock Exchange (NYSE), citing the financial cost of the secondary listing.
“The decision to voluntarily delist from the NYSE and to deregister from the SEC was made after careful consideration by the board of directors, taking into account the significant financial and administrative requirements of maintaining the NYSE listing and SEC registration,” the group said in a press release.
This decision aims at simplifying internal operations and improve efficiency, it added.
The delisting from NYSE is expected to have no impact on Orange’s U.S. clients or partners or its presence in the U.S. market, the French group said.
Orange said it would also proceed to the deregistration of two sets of debt securities, previously issued on the NYSE.