Orange has greater certainty of sustainable FCF growth among most of its incumbent European peers, given the best regulatory environment in the French telecom market, falling capex from 2019 and the cost-cutting opportunity available for the company.
Company Overview
Orange S.A. provides a range of fixed telephony and mobile telecommunications, data transmission, and other value-added services to consumers, businesses, and other telecommunications operators. The company was formerly known as France Telecom and changed its name to Orange S.A. in July 2013.
Orange world activities. Source: Wikipedia
Orange currently operates in 28 countries all around the