Orange, the French telecommunications company, has sold the rest of its shares in BT Group, its UK rival, for £486m.
The placing, launched on Thursday evening, was led by Citigroup as bookrunner. It consisted of 2.48m shares, a 2.4% stake in BT.
BT committed to repurchase £80m of its own shares from Orange as part of the transaction, which it intends to hold in treasury. Orange’s stake