FT chief executive hints at EUR7bn spend in Africa, Middle East

8 Apr 2010

France Telecom (FT) chief executive officer Stephane Richard has said his company may invest up to EUR7 billion (USD9.3 billion) in deals centred on Africa and the Middle East in the next five years, Bloomberg reports. It is understood the proposed investment would be part of an FT plan to double the revenue it currently generates from emerging markets – currently worth about EUR3.3 billion, or 7% of annual sales. In an interview, Richard said: ‘If we can buy a portfolio of assets to arrive more rapidly, that’s very good … If it’s necessary to buy licences country by country, that works also.’ In particular, FT is focused on filling gaps in its West Africa footprint, Richard said, where existing operations include businesses in the likes of Cameroon, Senegal and Niger.

France, Orange Group