(Reuters) – French telecommunications driver Orange introduced on Wednesday its purpose to delist its shares from the New York Stock Exchange (NYSE), mentioning the monetary expense of the additional 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 team stated in a news release.
This choice focuses on streamlining interior procedures and boost effectiveness, it included.
The delisting from NYSE is anticipated to have no effect on Orange’s united state customers or companions or its visibility in the united state market, the French team stated.
Orange stated it would certainly additionally continue to the deregistration of 2 collections of financial debt safeties, formerly released on the NYSE.
(Reporting by Alban Kacher; editing and enhancing by Jason Neely)
