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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Altice Europe N.V.    ATC   NL0011333752

ALTICE EUROPE N.V.

(ATC)
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Orange to launch online banking service on Nov. 2

10/03/2017 | 08:04am EST
Attendees visit the Orange workshop at the Viva Technology conference in Paris

PARIS (Reuters) - French telecoms group Orange (>> Orange) plans to launch an online banking service on Nov. 2 as it seeks to add another source of revenue to its core services.

PARIS (Reuters) - French telecoms group Orange (>> Orange) plans to launch an online banking service on Nov. 2 as it seeks to add another source of revenue to its core services.

The move highlights the heightened competition in retail financial services, with mobile telecoms network operators seeing increased smartphone ownership and reduced use of bank branches as an opportunity to compete with traditional lenders.

The company had originally scheduled the launch of Orange Bank on July 6 but then postponed, citing the need to "extend and broaden the test phase".

"The commercial launch will take place on Nov. 2," said the spokesman, confirming an earlier report by French newspaper La Tribune.

Orange Bank is to offer its customers use of an instant, secure mobile payment service as well as a free debit card. Its online app will also make it possible for users to transfer money via a text message to another Orange account.

France's largest online banks, ING Direct and SocGen's Boursorama (>> Société Générale), have some 1 million clients each. Orange Bank aims to win some 2 million customers in 10 years and break even in four to five years.

The new service was formed after the acquisition of a 65 percent stake in Groupama Banque last year.

Orange's rival Altice (>> Altice), which owns France's second biggest network operator, also has ambitions to launch an online bank, by early 2019 in the European countries where it operates, a source close the matter said in July.

(Reporting by Mathieu Rosemain; Editing by Sudip Kar-Gupta, Greg Mahlich)

Stocks treated in this article : Orange, Société Générale, SFR Group, Altice

© Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
ALTICE EUROPE N.V. 0.00% 5.336 Real-time Quote.0.15%
BOURSORAMA 0.00%End-of-day quote.0.00%
ING GROEP N.V. 1.57% 7.969 Real-time Quote.2.68%
ORANGE -0.82% 9.67 Real-time Quote.0.16%
SOCIÉTÉ GÉNÉRALE 0.38% 17.4 Real-time Quote.1.83%
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More news
Financials
Sales 2020 14 984 M 18 107 M 18 107 M
Net income 2020 -203 M -246 M -246 M
Net Debt 2020 31 405 M 37 949 M 37 949 M
P/E ratio 2020 -26,0x
Yield 2020 -
Capitalization 6 490 M 7 839 M 7 843 M
EV / Sales 2020 2,53x
EV / Sales 2021 2,41x
Nbr of Employees 45 409
Free-Float 46,0%
Chart ALTICE EUROPE N.V.
Duration : Period :
Altice Europe N.V. Technical Analysis Chart | ATC | NL0011333752 | MarketScreener
Technical analysis trends ALTICE EUROPE N.V.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 4,82 €
Last Close Price 5,34 €
Spread / Highest target 82,7%
Spread / Average Target -9,68%
Spread / Lowest Target -25,0%
EPS Revisions
Managers and Directors
NameTitle
Alain Phillippe Romain Weill Chief Executive Officer & Executive Director
Patrick Drahi President & Executive Director
Jurgen van Breukelen Chairman
Armando Pereira Chief Operating Officer
Malo Pascal Jean-Pierre Corbin Chief Financial Officer
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