Headline writers squeezed the last drop of juice on the occasion of the
publication of a pathfinder prospectus by the UK’s third-largest mobile
phone network. ‘Orange float price peeled’ in the Daily Express was
However, mostly balanced commentary showed tempered enthusiasm for the
flotation which focussed on the offer’s keen pricing in order to assure
a strong market for the shares once trading starts. Most commentators
pointed out that the fact that Orange’s balance sheet was historically
red would not be a deterrent.
The company’s innovation and domination in the digital market indicated
a bright future although the two big analogue providers, Vodaphone and
Cellnet, were now reacting on pricing and service. The Times dubbed it
the ‘most hyped offering of the year’ while the Sunday Times saw it as
‘attracting interest from sophisticated growth-oriented investors’.
However, the Mail on Sunday, saw it as ‘a bitter fruit, to be purchased
only when ripe’.
Evaluation and analysis by Carma International. Cuttings supplied by
Standard Press Analysts, ‘What The Papers Say’ can also be found at :