FILE PHOTO: People walk past a store of the French telecoms operator Orange in Paris, France, February 16, 2021. REUTERS/Sarah Meyssonnier/File Photo
July 29, 2021
MADRID (Reuters) – Orange’s Spanish unit will invest nearly 4 billion euros ($4.75 billion) in 2021, CEO Jean-Francois Fallacher said on Thursday, almost quadrupling 2020’s investment levels despite bruising market conditions and a 3.7 billion-euro writedown in the second quarter.
“The Spanish market is hyper-competitive… but amid the three main operators Orange is a strong second,” Fallacher told reporters in a call. “Last year we invested over 1 billion euros – this year’s investment will be closer to 4 billion.”
($1 = 0.8422 euros)
(Reporting by Clara-Laeila Laudette, editing by Inti Landauro)
Source: One America News Network
