SCHEDULE 13G

CUSIP No.

FR0000133308

1

Names of Reporting Persons

AMUNDI

2

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

3

Sec Use Only

4

Citizenship or Place of Organization

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 88,506,000.00
7	Sole Dispositive Power
8	Shared Dispositive Power 295,294,561.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

295,294,561.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

11

Percent of class represented by amount in row (9)

11.1 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: Amundi does not have voting rights on 198,215,738 shares which are held through a FCPE (Fonds Commun de Placement d'Enterprise, an investment vehicle established under French law), solely dedicated to Orange group's employees shareholding. Employees of Orange are granted the right to participate in stock purchase plans in which the shares acquired are exclusively held in this FCPE, created at the request of Orange. The voting rights associated to these shares are exercised by the supervisory Board of the FCPE, where representatives of the employees have the majority (if any remaining seats of the supervisory board are designated by Orange), and not by Amundi.

SCHEDULE 13G

CUSIP No.

FR0000133308

1

Names of Reporting Persons

Amundi Asset Management US, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

3

Sec Use Only

4

Citizenship or Place of Organization

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power
6	Shared Voting Power 88,506,000.00
7	Sole Dispositive Power
8	Shared Dispositive Power 295,294,561.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

295,294,561.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

11

Percent of class represented by amount in row (9)

11.1 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Amundi does not have voting rights on 198,215,738 shares which are held through a FCPE (Fonds Commun de Placement d'Enterprise, an investment vehicle established under French law), solely dedicated to Orange group's employees shareholding. Employees of Orange are granted the right to participate in stock purchase plans in which the shares acquired are exclusively held in this FCPE, created at the request of Orange. The voting rights associated to these shares are exercised by the supervisory Board of the FCPE, where representatives of the employees have the majority (if any remaining seats of the supervisory board are designated by Orange), and not by Amundi.

SCHEDULE 13G

Item 1.

(a)

Name of issuer:

Orange SA

(b)

Address of issuer's principal executive offices:

6 PLACE D ALLERAY, 75505 PARIS CEDEX 15, PARIS, France, 00000

Item 2.

(a)

Name of person filing:

Amundi; Amundi Asset Management

(b)

Address or principal business office or, if none, residence:

Amundi, 91-93 boulevard Pasteur, 75015 Paris, France; Amundi Asset Management, 90 boulevard Pasteur, 75015 Paris, France

(c)

Citizenship:

Both Amundi and Amundi Asset Management are organized under the laws of the Republic of France.

(d)

Title of class of securities:

SHARES

(e)

CUSIP No.:

FR0000133308

Item 4.

Ownership

(a)

Amount beneficially owned:

See Item 9 of each cover page.

(b)

Percent of class:

See Item 11 of each cover page.

(c)

Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

See Item 5 of each cover page.

(ii) Shared power to vote or to direct the vote:

See Item 6 of each cover page.

(iii) Sole power to dispose or to direct the disposition of:

See Item 7 of each cover page.

(iv) Shared power to dispose or to direct the disposition of:

See Item 8 of each cover page.

Item 6.

Ownership of more than 5 Percent on Behalf of Another Person.

If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.

One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the SHARES of ORANGE. The interest of ORANGE ACTIONS, an account under the investment discretion of Amundi Asset Management, in SHARES of ORANGE, amounted to exclusive dispositive power over 198,215,738 shares (no voting shares held) or 7.46% of the total outstanding SHARES at March 31, 2025.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.

AMUNDI AM AMUNDI AUSTRIA GMBH AMUNDI DEUTSCHLAND GMBH AMUNDI JAPAN AMUNDI SGR CPR KBI GLOBAL INVESTORS (NORTH AMERICA) LTD KBI GLOBAL INVESTORS LTD S2G SABADELL ASSET MANAGEMENT

Item 8.

Identification and Classification of Members of the Group.

Not Applicable

Item 9.

Notice of Dissolution of Group.

Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AMUNDI

Signature:	/s/ John M. Malone
Name/Title:	John M. Malone; Chief Compliance Officer
Date:	05/06/2025

Amundi Asset Management US, Inc.

Signature:	/s/ John M. Malone
Name/Title:	John M. Malone; Chief Compliance Officer
Date:	05/06/2025