By Anthony Shevlin

Orange (ORA.FR) said late Thursday that it will sell its remaining stake in telecommunications company BT Group PLC (BT.A.LN).

The French telecommunications company said the sale is of a residual stake of around 248 million shares and represents around 2.5% of the share capital.

BT Group will participate in the share placement with an irreducible order at placement price of 80 million pounds ($101.5 million).

The transaction is expected to be finalized on July 2 and there will be no public offering in any country, Orange said.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com

(END) Dow Jones Newswires

June 28, 2019 01:59 ET (05:59 GMT)

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