RTTNews | Nov 14, 2020 12:48PM EST

12:47 Saturday, November 14, 2020 (RTTNews.com) - Orange (ORAN) said it received a favorable decision from the French State Council regarding a tax dispute that began nearly ten years ago. The decision will enable the company to recover the amount paid in July 2013 of around 2.2 billion euros.

The French telecommunications operator said it plans to allocate the funds in a fair and balanced manner in a way that will benefit the development of the company, its employees and its shareholders.

The company said that it will record the amount as current tax income and help reduce the company's net debt. The sums received will not be subject to tax.

The litigation came after the integration of the company's subsidiary Cogecom in 2005.

Read the original article on RTTNews ( https://www.rttnews.com/3146110/orange-gets-favorable-decision-in-eur-2-2-bln-french-tax-dispute.aspx)

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