Court says FT’s Orange buyout is OK

6 Apr 2004

The French appeal court has today rejected a case put forward by one of the small shareholders in mobile operator Orange, ADAM, against France Télécom (FT)’s planned buyout of the cellco, saying that the challenge was ‘unfounded’. ADAM had claimed that the offer price of EUR9.50 a share was unfair and that the shares were valued at EUR11.75 in FT’s. FT has also launched a minority buyout of its ISP Wanadoo; it plans to simplify its structure by bringing all its operations together.

France, Orange Group