TeliaSonera not moving until FT increases its bid, paper says

13 Jun 2008

The Financial Times reports that TeliaSonera is not ready to talk to France Telecom (FT) until the French firm increases its takeover bid. On 5 June FT announced a EUR41.1 billion (USD63.4 billion) cash and stock deal for the Nordic giant and said it would not increase the offer. However, the following week people familiar with the situation said the French telco was willing to up its offer if TeliaSonera agreed to hold talks. The paper says that talks would have ‘no basis’ as the TeliaSonera board has dismissed the original offer and no enhancement has been proffered by FT to change the status quo.

France, Sweden, Orange Group, Telia Company