FT casts eye over Africa once again

16 Sep 2008

The chief executive of France Telecom (FT), Didier Lombard, is quoted by the Financial Times as saying his company is interested in pursuing further acquisitions in English-speaking countries on the African continent. The newspaper goes on to say that the French giant, which already has a presence in 13 mainly French-speaking markets in Africa, will reinvigorate its strategy of making strategic purchases in high-growth emerging markets in the region. The CEO expects the firm’s free cash flow in FY2008 to be ‘a little better’ than the USD11.1 billion previously forecast and said FT may raise the ratio of free cash flow it returns to investors above its 45% target.

France, Orange Group