Orange has to spend more to boost loss-making banking business

Orange is taking sole control of its banking endeavour as well as feigning enthusiasm for ploughing extra cash into the outfit.
The French telecoms group has brokered a deal to acquire the 21.7% stake in Orange Bank held by its partner, insurance company Groupama, for an undisclosed sum. The deal, which is subject to the usual regulatory approvals, will see Groupama retain its position as a major commercial partner to the bank, having extended an exclusive deal on everyday banking and consumer c