FT stays on the eastern acquisition trail

19 Apr 2005

In recent weeks France Télécom (FT) has belied its heavily indebted status by investing significantly in the rapidly expanding eastern European market. The French carrier recently increased its stake in Romanian cellco Orange Romania from 73.27% to 96.63%, buying out minority shareholders in a deal estimated to be worth EUR408 million. As part of the mini spree, it also bought out minority shareholders owning 46% of Equant for EUR564 million and spent millions on snapping up outstanding shares in Orange and Wanadoo. The company’s chief financial officer Michel Combes has confirmed that FT will continue to pursue acquisitions or higher shareholdings in fast growing markets such as eastern Europe.

France, Orange Group