Orange SA selected BNP Paribas SA and Morgan Stanley as advisers for the proposed IPO of its Middle East and Africa business, Bloomberg News reported, citing sources.

An underwriting syndicate has yet to be selected.

The France-headquartered operator is looking to invite more banks to join the transaction at a later time.

Orange is looking to London and Paris as venues for the planned IPO, which may take place in the first half of 2020.