FT to review European assets; spotlight falls on Austria, Portugal

25 May 2011

France Telecom (FT) chief executive Stephane Richard has highlighted the importance of investments in internet infrastructure for the group, but added that the company intends to review its future European portfolio, with a specific focus on minority stakes in Portugal and Austria. Bloomberg quotes Richard as saying that questions remain unanswered on the viability of FT staying in these two countries. The French behemoth will this month consider its options, including mergers, network-sharing deals, or outright sales of operations in Europe, excluding France, Poland and Spain. FT currently owns a 35% stake in Orange Austria, and 20% of Sonaecom, owner of Portugal’s smallest mobile operator.

France, Orange Group