FT’s new CEO targets joint ventures, but rules out major purchases

4 Feb 2010

France Telecom’s (FT’s) incoming chief executive officer Stephane Richard, who will replace Didier Lombard from 1 March 2010 (see CommsUpdate 3 February), has ruled out the possibility of making any major acquisitions in the short term, but will instead seek out opportunities to grow in Europe through joint ventures. The Wall Street Journal quotes Richard as saying his firm will soon publish its eagerly awaited plan for the deployment of high speed broadband networks in France. ‘We won’t have the money to do everything but I think we have the means to fund our core priorities … We are not looking for mega deals across borders.’

France, Orange Group