12:08 PM EDT, 06/21/2024 (MT Newswires) -- (Updates with additional details.)

Orange (ORAN) is mulling a sale of its 40% stake in Mauritius Telecom and has discussed its potential exit plan with advisers, Bloomberg reported Friday, citing people familiar with the matter.

The French company has not yet formally approached the board of Mauritius Telecom about its interest in a share buyback, one of the people said, according to Bloomberg.

Orange is expected to make a decision in November, while there's also a possibility that Orange could decide to retain the assets for an extended period, the news outlet reported.

Orange and Mauritius Telecom did not immediately respond to MT Newswires' request 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.)