FT says buyout deal will not impinge on Orange growth

13 Oct 2003

France Télécom’s proposed purchase of the remaining 13.7% stake in Orange it does not already own will not impair the mobile operator’s quest to expand through acquisitions, according to Orange CEO Sol Trujillo. The Orange supremo said that if his company’s shareholders acquiesce to the French telco’s tender offer the cellco would still be able to use the parent company’s financial muscle to fund purchases. Trujillo has been quoted as saying he is keen to expand the operator’s footprint – particularly in eastern Europe – possibly using Orange shares as a deal currency.