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14-2018 Orange Polska signed a settlement agreement with mBank regarding termination of the partnership in the area of financial services.

Current Report (14/2018)

Orange Polska S.A. – Warsaw, Poland

18 June 2018

 

Pursuant to Article 17(1) of the Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC, the Management Board of Orange Polska S.A. announces termination of the partnership with mBank S.A.

On 18 June 2018 Orange Polska S.A. (Orange Polska) signed a settlement agreement with mBank S.A. (mBank) regarding termination of the partnership in the area of financial services provided under the brand Orange Finanse, that it informed about in the current report on 19 March 2014. According to the settlement termination of the cooperation will take place on 31 December 2018.

The decision to terminate this partnership reflects Orange Polska’s intention to pursue the development of mobile banking services on the basis of its own unique assets and strategy. Mobile financial services remain an important part of company’s strategy to develop adjacent services to the core telecommunication offer. Management is now working on new business model in this area that will best meet customer needs and better contribute to the value creation of Orange Polska. The new business model will take advantage competencies and experience of Orange Group.

 

 

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