FT to exit cable sector

7 Nov 2003

The chief executive of France Télécom, Thierry Breton, is reported to have informed the government of his intention to divest the company’s wholly owned France Télécom Câble unit as well as its stakes in other French cable operators NC Numéricâble and Noos. The move to exit the domestic cable TV sector can be seen as part of the ongoing drive by Breton to reduce the company’s crippling debt burden. It follows the disposal of a raft of media assets deemed ‘non-core’, including Dutch cable TV unit Casema and French distribution masts business Télédiffusion de France (TDF). With around 850,000 customers, France Télécom Câble is being valued by analysts at around EUR500 million.