PARIS, Sept 25 (Bernama-dpa) -- French telecom giant Orange announced on Wednesday that it intends to voluntarily delist its shares from the New York Stock Exchange (NYSE).
It also plans to deregister with the US Securities and Exchange Commission (SEC), reported German news agency dpa.
The move follows the company's note highlighting the significant financial and administrative requirements to maintain the NYSE listing and SEC registration.
"This decision is in line with the group's aim to improve internal simplification and efficiency," the company said.
As part of the move, Orange plans to file an application with the SEC during the fourth quarter to initiate the delisting process. The delisting will be effective 10 days after that filing.
This decision is expected to have no impact on Orange's clients and partners or its commercial presence in the United States.
Post delisting, the company intends to maintain its American Depositary Receipt (ADR) programme, which will enable investors to retain their ADRs and facilitate trading on the US over-the-counter (OTC) market.
--BERNAMA-dpa
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