07:43 AM EDT, 04/12/2024 (MT Newswires) -- (Updates with a response from Orange and KKR in the story body.)

Orange (ORAN) is selling 1.9 billion euros ($2.04 billion) of loans as it divests its financial services business, Bloomberg News reported Thursday, citing people familiar with the matter.

The transaction consists of three portfolios, mostly comprising home and consumer loans, the report said.

Orange declined to comment to MT Newswires.

Bids are expected to be submitted in May and potential bidders include AB CarVal Investors, GoldenTree Asset Management, KKR & Co and Cerberus Capital Management, the report said.

KKR declined to comment to MT Newswires. AB CarVal Investors, GoldenTree Asset Management and Cerberus Capital Management did not respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 11.07, Change: -0.06, Percent Change: -0.54