We aim to maintain a responsible capital structure to support our business operations and finance capital expenditures.
Equity and debt are balanced to remain within the frame of a safe financial structure and good credit standing. Since 2014, our external funding needs are sourced from our majority shareholder Orange S.A. Such a policy allows for synergies in processes and cost efficiencies, as Orange S.A. is one of the largest telecom companies in Europe with ready access to a broad range of financing sources. The funding is provided on an ‘arm’s length’ basis, supported by market benchmarks. Almost our entire debt is denominated in the local currency while its small part foreign currency denominated is hedged against currency fluctuations.
