FT to gain control of shares

2 Sep 2004

The French government’s announcement to cut its stake in France Télécom (FT) to under 50% will free the telco from a law forcing it to pay cash for the majority of its acquisitions, ad giving it the ability to use its shares as payment. The government said it will sell up to 12.13% of FT through a private placement with institutional investors.

France, Orange Group