FT lifts bid deadline in an attempt to keep TeliaSonera interested

17 Jun 2008

France Telecom (FT) has relaxed its bid deadline for its informal USD41.2 billion takeover offer for Nordic counterpart TeliaSonera, in an attempt to keep the process alive. The French telco had set this Thursday as its deadline, adding that it would walk away if the TeliaSonera board showed no interest. However, with the Nordic group dismissing the initial bid as too low and then declining to show any interest in discussing FT’s proposals, the Paris-based operator has now lifted the deadline in the hope it will send a positive message to the TeliaSonera board that its intentions are friendly. TeliaSonera declined to comment when asked.

France, Sweden, Orange Group, Telia Company