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Tuesday, March 17, 2015

Orange will take time to review options on Dailymotion, (NYQ: ORAN)

France's Orange plans to take more time to review options for selling a stake in video sharing site Dailymotion, denying media reports that it was to enter exclusive talks with Asia's PCCW. "We did not sign an exclusivity with PCCW," said Orange Chief Executive Stephane Richard at a presentation on the group's 2020 strategy. "We want to take a bit of time to evaluate other options."Orange has been looking for a partner for over a year to help Dailymotion expand internationally to try to compete with much larger rival Google's Youtube. PCCW is an internet and telecoms giant based in Hong Kong and controlled by tycoon Richard Li, the son of businessman Li Ka-Shing.In 2013 Orange was in talks to sell all or part of the site to Yahoo but the French government scuppered the deal over concerns that a promising start-up getting snapped up by a U.S. giant.This time around Orange has said it would sell only a minority stake. In early 2014 Microsoft was said to be interested but nothing came of those reports.

Orange SA, formerly France Telecom SA, is a France-based company that is engaged, principally, in the provision of integrated telecommunications services. Shares of ORAN fell by 0.06% or $-0.01/share to $16.19. In the past year, the shares have traded as low as $13.04 and as high as $18.80. On average, 803613 shares of ORAN exchange hands on a given day and today's volume is recorded at 692509.