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4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  Altice    ATC   NL0011333752

ALTICE (ATC)
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01/14 French telcos to spend $3.7 billion to plug network gaps
01/11 Results drive sharp moves in European stocks as euro weighs
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Orange to launch online banking service on Nov. 2

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10/03/2017 | 02:04pm CET
Attendees visit the Orange workshop at the Viva Technology conference in Paris

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.

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
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Financials (€)
Sales 2017 23 486 M
EBIT 2017 2 153 M
Net income 2017 -1 197 M
Debt 2017 50 000 M
Yield 2017 0,47%
P/E ratio 2017 -
P/E ratio 2018 1 832,65
EV / Sales 2017 2,82x
EV / Sales 2018 2,80x
Capitalization 16 299 M
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Technical analysis trends ALTICE
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 14,6 €
Spread / Average Target 62%
EPS Revisions
Managers
NameTitle
Dexter G. Goei Chief Executive Officer & Director
Patrick Drahi President
Jurgen van Breukelen Chairman
Dennis Okhuijsen Chief Financial Officer & Executive Director
Bruno Zerbib Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
ALTICE2.68%19 916
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NIPPON TELEGRAPH AND TELEPHONE CORP-3.23%98 812
DEUTSCHE TELEKOM-2.47%83 958
TELEFONICA1.11%52 393
ORANGE-0.10%46 969