Why Orange (ORAN) Stock Is Lower Today

NEW YORK (TheStreet) -- Shares of Orange SA  (ORAN) are falling, -3.10% to $16.49 after it was reported that merger talks between the French telecom operator and Bouygues SA (BOUYY) have failed.

Bouygues SA, France's third-largest mobile phone company, held separate merger talks with Iliad SA (ILIAF), which also broke down.

Bouygues now plans to eliminate 1,516 employees at its phone unit by in an effort to save $406 million.

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