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Orange Picks BNP, Morgan Stanley to Advise on Africa IPO

  • Deal set to be one of biggest listings out of region this year
  • Carrier considers London, Paris as potential share sale venues

Orange SA, France’s biggest phone company, picked BNP Paribas SA and Morgan Stanley to advise on a proposed initial public offering of its Middle East and Africa business, people familiar with the matter said.

The banks are helping with preparations for the listing, though an underwriting syndicate hasn’t yet been formalized, the people said. Orange plans to invite more banks to join the deal at a later stage, according to the people, who asked not to be identified because the information is private.