FT denies share buyback reports

14 Apr 2008

A spokesman for France Telecom (FT) has said that the company has ‘no current plans’ for a major share buyback. The statement came after press reports surfaced last week suggesting that FT might purchase up to 10% of the state’s remaining 27.6% stake. In June 2007 the government sold 5% of the company’s shares, netting EUR2.7 billion (USD4.3 billion) in the process. It had hoped to sell 7%, but demand was not sufficient.

France, Orange Group