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BUSINESS
July 2, 2002 | Reuters
A gaffe by France's new government yanked France Telecom shares up 25%, as the Finance Ministry said it could buy out the firm to rescue it from a relentless market beating--and then backtracked. In what appeared to be a clumsy communications blunder, a Finance Ministry spokeswoman initially said France would consider renationalizing the 55.5% state-owned group if there was no end to the confidence crisis that has wiped 96% off its value in two years.
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WORLD
November 1, 2009 | Devorah Lauter
A short workweek and the prospect of early retirement. Job-protection laws that make it almost impossible to get fired. Seven weeks of holidays and vacation time a year. Oh, and paid lunches. A harried American worker might ask: What's not to like? And a dissatisfied French worker might respond: Plenty. A wave of suicides at the country's largest telecommunications firm has unnerved France, long viewed by many outside the country as a cushy haven for employees. Experts say the incidents are the most visible examples of the growing phenomenon of stress-induced illness in the country.
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BUSINESS
November 8, 1999 | Bloomberg News
Mannesmann's shares are set to extend recent gains today after British newspapers reported that France Telecom and Vodafone AirTouch are mulling over a joint $73-billion hostile bid for Germany's largest mobile-phone company. France Telecom, Europe's No. 2 phone company, and Vodafone, the world's largest wireless company, declined to comment on the reports in the Sunday Telegraph and Sunday Times newspapers, which did not cite sources.
BUSINESS
January 20, 2004 | From Reuters
France Telecom said Monday that it would cut about 14,500 positions through early retirement or reassignment to other state-owned companies in 2004 as the former monopoly pushes ahead with its massive restructuring. A France Telecom spokesman said the cuts were in line with forecasts made in late 2002, when the company announced a restructuring plan to repair its balance sheet after a rapid expansion spree nearly crushed it with debt.
BUSINESS
September 2, 2003 | From Bloomberg News
France Telecom, Europe's second-biggest phone company, offered $7.24 billion in stock for the stake it doesn't already own in Orange to benefit from faster profit growth at the wireless unit. France Telecom offered 11 of its shares for every 25 shares of Orange, the company said on a conference call. The offer for the remaining 13.8% of Orange values each share at $10.90, or 18% more than Friday's close. Orange shares jumped as much as 15%.
BUSINESS
September 14, 2002 | Associated Press
France Telecom, nearly drowning in debt and forced to hunt for new leadership after the resignation of its chairman, announced a record loss of nearly $12 billion in the first half and the end of its costly funding for German cell phone affiliate Mobilcom. The worrisome state of the French telecommunications giant's finances prompted the French government, France Telecom's majority shareholder, to announce that it would pump new cash into the company and not let it fail.
BUSINESS
October 5, 1999 | Bloomberg News
France Telecom, Europe's second-largest phone company, agreed to buy a 17.24% stake in German wireless company E-Plus Mobilfunk for $1.86 billion in cash to gain a foothold in Europe's biggest market. France Telecom bought the stake from Vodafone AirTouch and will seek to buy the rest of the company from its three other shareholders. E-Plus, Germany's third-largest mobile company, with 3 million subscribers, is owned by German utilities Veba and RWE, which together hold a 60.
BUSINESS
November 21, 2000 | Reuters
France Telecom reached an agreement to acquire control of network service provider Equant, which it will merge with its Global One corporate telecom unit to create a powerful world leader in business data communications. France Telecom will acquire a 34% stake in Equant from airlines cooperative SITA for about $2.97 billion in stock and will invest about $1 billion in cash in the new group under the long-awaited deal. The French company will have a 54.
BUSINESS
May 29, 2000 | Bloomberg News
France Telecom could announce an agreement by Tuesday to buy Orange, Britain's third-largest mobile phone company, for as much as $45 billion, people familiar with the companies said. France Telecom, which has been in exclusive talks with Orange's owner, Vodafone AirTouch, might pay about two-thirds of the price in cash, assume about $9 billion of debt and pay the remainder in stock, the sources said.
BUSINESS
July 12, 1999 | Bloomberg News
France Telecom wants to get into the United Kingdom cable TV business and is interested in buying Cable & Wireless' 53% of its spinoff, Cable & Wireless Communications, said people familiar with the discussions. France's dominant phone company is eager to build its stakes in markets outside France. Two of the three major cable companies in the U.K.--CWC and Telewest Communications--are in merger discussions. The third, NTL, has said it will "play a very significant role" in cable consolidation.
BUSINESS
September 2, 2003 | From Bloomberg News
France Telecom, Europe's second-biggest phone company, offered $7.24 billion in stock for the stake it doesn't already own in Orange to benefit from faster profit growth at the wireless unit. France Telecom offered 11 of its shares for every 25 shares of Orange, the company said on a conference call. The offer for the remaining 13.8% of Orange values each share at $10.90, or 18% more than Friday's close. Orange shares jumped as much as 15%.
BUSINESS
June 21, 2003
* EBay Inc., the world's largest Internet auctioneer, agreed to buy online services provider FairMarket Inc. for about $4.5 million in cash. * France Telecom sold its 5.4% stake in Sprint Corp.'s wireless unit to UBS, raising $330 million and ending a seven-year investment in the U.S. mobile phone company.
BUSINESS
September 16, 2002 | From Associated Press
The German government announced a $388-million bailout package for cell phone operator Mobilcom, which had said it was heading for bankruptcy after shareholder France Telecom cut off funding last week. The move Sunday by Chancellor Gerhard Schroeder's government as well as the state of Schleswig-Holstein saves some 5,500 jobs, at least temporarily, a week before Sept. 22 national elections.
BUSINESS
September 14, 2002 | Associated Press
France Telecom, nearly drowning in debt and forced to hunt for new leadership after the resignation of its chairman, announced a record loss of nearly $12 billion in the first half and the end of its costly funding for German cell phone affiliate Mobilcom. The worrisome state of the French telecommunications giant's finances prompted the French government, France Telecom's majority shareholder, to announce that it would pump new cash into the company and not let it fail.
BUSINESS
August 2, 2002 | Bloomberg News
Liberty Media Corp., controlled by billionaire John Malone, agreed to buy France Telecom's Dutch cable television unit for $733 million, jump-starting its efforts to expand in Europe. Malone has been prowling for acquisitions as rivals such as France Telecom struggle to cut debt and others such as NTL Inc. have filed for bankruptcy protection. Casema marks his first European takeover since German regulators blocked Liberty Media's purchase of six Deutsche Telekom networks in February.
BUSINESS
July 2, 2002 | Reuters
A gaffe by France's new government yanked France Telecom shares up 25%, as the Finance Ministry said it could buy out the firm to rescue it from a relentless market beating--and then backtracked. In what appeared to be a clumsy communications blunder, a Finance Ministry spokeswoman initially said France would consider renationalizing the 55.5% state-owned group if there was no end to the confidence crisis that has wiped 96% off its value in two years.
BUSINESS
September 9, 1997 | From Bloomberg News
The French government said Monday that it will sell up to 38% of France Telecom for about $12.5 billion in one of the world's largest initial public offerings. One-fifth of Europe's second-biggest phone company will be sold on the stock market, and up to 13% will be swapped with other companies, including a 7.5% stake with European leader Deutsche Telekom, its main international partner. Employees will be able to buy between 3.5% and 4.5%.
BUSINESS
January 27, 2000 | From Reuters
Sprint Corp. said Wednesday that it will sell its stake in money-losing international joint venture Global One to Deutsche Telekom and France Telecom for $1.13 billion in cash, dramatically less than initially forecast. The long-distance company decided to shed its stake in Global One so it could concentrate on its planned $115-billion acquisition by larger rival MCI WorldCom Inc., which is building vast international networks.
BUSINESS
March 7, 2001 | From Bloomberg News, Times Staff
France Telecom has had a tough time getting investors to buy its stock recently, but its offering this week of corporate bonds is attracting huge interest worldwide. France's largest phone company is selling about $16.4 billion worth of bonds, double its original plan, making it the biggest corporate bond sale ever. The company is raising the money to pay off about $7.4 billion in maturing debt and to fund investments in new wireless services.
BUSINESS
December 25, 2000 | Bloomberg News
France Telecom will provide the first big test for how European telecommunications share sales will fare in 2001 when it offers at least $6.4 billion of stock in its wireless unit, Orange, investors said. Chief Executive Michel Bon has said France's No. 1 phone company might halve its original goal of raising $12 billion. That's after Telefonica Moviles, Telekom Austria and others scaled back equity offerings this year amid falling stock prices.
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