Investing.com -- Shares of French telecommunications giant Orange SA (EPA:ORAN) (NYSE:ORAN) fell on Tuesday after it said it plans to voluntarily delist its American Depositary Shares from the New York Stock Exchange and deregister with the U.S. Securities and Exchange Commission.
At 4:18 am (0818 GMT), Orange was trading 1.4% lower at €10.63.
“This decision is in line with the Group’s aim to improve internal simplification and efficiency, while maintaining the highest standards of corporate governance and transparent financial reporting,” the company said in a statement.
Orange emphasized that the delisting from the NYSE is not expected to affect its U.S. clients, partners, or its overall presence in the U.S. market.
Additionally, the French telecommunications group announced plans to deregister two sets of debt securities that were previously listed on the NYSE.