As Orange prepares to return to the London Stock Exchange, now as a part of France Telecom, two Fools square up over its future. Is investing at the offer price the right thing to do? Should Foolish investors wait? Or is it a bad idea to invest in Orange at all?
The Bull Case
"Despite its already enormous scale, mobile communications is a market in its infancy... Orange has shown already that it has all the elements to thrive in this environment. From a standing start in 1994, it has taken a market share in the UK of 24%, almost catching number 2 Cellnet's 25% (Vodafone leads with 30%). More importantly, though, with innovative services such as Wildfire (a voice-activated personal assistant) and Orange internet, the company has demonstrated that it has the vision and adaptability to take advantage of a rapidly developing market." more
The Bear Case
"So what about profits? Orange has never made one. It will not make one for at least five years, despite what optimistic house brokers would have us believe. Steer clear of Orange for now. You'll be able to pick it up cheaper in the future. Don't stag this IPO. You may be left in a tight speculative squeeze." more
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The Bull Case
The Bear Case
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