French telecom operator Orange is bucking the trend of European tech companies moving to the US.
The mobile operator said it is to delist its shares from the New York Stock Exchange due to the cost of its secondary listing.
"The decision to voluntarily delist from the NYSE and to deregister from the SEC was made after careful consideration by the board of directors, taking into account the significant financial and administrative requirements of maintaining the NYSE listing and SEC registration," the group said in a press release.
Orange, which some years ago divested its UK operations to EE, said the move would have no impact on clients or partners in the US.
Two sets of NYSE-listed debt securities would also be deregistered, it added.