- Stephane Richard, CEO of Orange (NYSE:ORAN), apologized today for saying Wednesday he would abandon his firm's relationship in Israel "tomorrow morning" if not for penalty risk, and he vowed to stay in the country.
- His comments earlier in the week came amid an Israel-boycott movement in France, which targeted Orange for its brand relationship with Israel's Partner Communications (NASDAQ:PTNR). Partner renewed its contract this spring to sell under the Orange brand for 10 more years.
- French foreign minister Laurent Fabius says he "firmly opposed" any boycott. The French government owns some 25% of Orange.
- Meanwhile, Haim Saban, the Israeli-born billionaire who has control of Partner, is still upset with Richard and promises "this isn't over."