0917 GMT - Orange might need to pay more tax after the French government's announcement of a temporary tax increase on large companies, ING analyst Jan Frederik Slijkerman writes in a note. "We expect that Orange also has to take its part, as one of the larger French companies," Slijkerman says. However, the impact is expected to be limited, under the assumption that large companies have to pay around 15% higher income tax for a year, he adds. The French telecommunication company reported a three-year average income tax of around 260 million euros in France and an average global income tax of around 1 billion euros, according to ING. Shares are down 2.8% at 9.90 euros. (najat.kantouar@wsj.com)
(END) Dow Jones Newswires
October 03, 2024 05:17 ET (09:17 GMT)
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