FT to fund Amena deal through EUR3 billion share sale

5 Sep 2005

France Télécom (FT) plans to sell EUR3 billion (USD3.7 billion) of shares to existing shareholders to fund its planned takeover of Spanish mobile operator Amena. The French telco will issue 133.44 million new shares priced at EUR22.63 each. Shares in the operator were suspended on Friday pending an announcement. FT agreed a deal to buy an 80% stake in Spain’s fastest growing mobile operator in July for EUR6.4 billion. At the time it said it would launch a sale of shares either to Spanish shareholders, who guaranteed the sale, or through a public offering. The acquisition will boost the number of mobile users FT’s mobile arm Orange has in Spain by 9.7 million.

France, Orange Group