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General

France Telecom CEO rejects merger with Deutsche Telekom

Thursday 26 July 2012 | 12:14 CET | News
France Telecom CEO Stephane Richard has rejected speculation of a merger with Deutsche Telekom. In an interview with the Financial Times, he said "there is definitely no plan for a merger", noting this would likely prove unpopular with investors and he sees no "real interest in terms of value creation". Richard also played down speculation that the operators may unwind their UK joint venture Everything Everywhere. He said that France Telecom was not a seller and has held no discussions with private equity. He admitted that it "could be an option" to buy the Deutsche Telekom stake, but added: "As far as I know they are not sellers themselves." However, the French group is ready to make acquisitions again in Europe, with interest in Yoigo, the fourth mobile operator in Spain being prepared for sale by TeliaSonera. "I'm not saying that we are going to buy everything, of course, but we will see and follow closely the situation in the big European markets where we are," Richard said.

Categories: General
Companies: Deutsche Telekom / Everything Everywhere / France Telecom / TeliaSonera / Yoigo
Countries: Europe
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