Global law firm White & Case LLP has advised Orange, one of the world's leading telecommunications operators, on its acquisition of a 65 percent stake in Groupama Banque, which will become Orange Bank.

Orange and Groupama have signed an agreement that aims to enable the development of an innovative, 100 percent mobile banking service. The agreement follows the exclusive discussions that have been ongoing between the two groups since January. It paves the way for the acquisition by Orange of 65 percent of Groupama Banque, with Groupama retaining the remaining 35 percent. The completion of the transaction is expected during the third quarter of 2016.

The White & Case team in Paris which advised on the transaction was led by partner Guillaume Vallat and included associates Elisabeth Sandret-Renard and Léo Catafau-Castellet.