Government launches sale of 9.6 per cent stake in France Telecom
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France launched the sale of at least 9.6 per cent of France Telecom, a move that could raise up to $7.1 billion US that will be used to help the French government reduce its national debt.
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The French government asked two banks, France&#39;s Societe Generale SA and the Netherlands&#39; ABN Amro Holding NV, to handle the sale of the Air France-KLM stake involving some 48 million shares, according to a Finance Ministry spokesperson.
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A consortium led by France Telecom on Friday took control of 51 percent of the state-owned Telkom Kenya in a move expected to boost internet services and set up a new mobile phone network in the east African nation.
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The French government plans to sell as much as 5.8 billion euros ($7.1 billion) of shares in France Telecom SA to reduce debt that breaches European Union limits.
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The French government today said was to sell a 17.7% stake in Air France-KLM, the worldâs largest airline, in a move that would help the state reduce its debt and scale back its influence on the Franco-Dutch carrier.
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The German government on Monday sold shares worth â¬1.6 billion, or $2.14 billion, in Deutsche Telekom to the state-owned development bank KfW Group as the finance minister, Hans Eichel, strove to rein in the budget deficit.
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Scandal-hit bank Societe Generale unveils plans to sell shares at a 40% discount to raise 5.5bn euros.
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Telecom Italia SPA's board approved a plan Tuesday to offer about &#36;19.5 billion for most of the 44 percent stake it doesn't already control of the mobile phone unit Telecom Italia Mobile SPA.
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France Telecom said on Thursday it had been picked by Apple to launch its iPhone handset in France.
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Italy's operator Telecom Italia is looking at the possible sale of its French Internet access unit Alice France, an informed source said Monday.
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THE French government accelerated its privatization effort yesterday, saying that it would sell as much as 12.1 percent of France TÃ©lÃ©com, the former state monopoly, and take its stake
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Germany is selling a 4.45 billion-euro ($5.5 billion) stake in Deutsche Telekom AG, making it the fourth European government to sell state assets in the past six weeks to help reduce a deficit that exceeds European Union limits.
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PARIS / LONDON: France said on Wednesday it will sell up to 12.1% of France Telecom to raise â¬5.8 billion ($6.9bn) and help cut national debt in Europeâs largest placing in four years.
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The French telecommunications operator France Telecom wants to buy the 46 percent of business telecom-services unit Equant it does not already own, marking another step in its general integration strategy.
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Belgian telecommunications operator Belgacom said on Thursday it was selling its stake in the Belgian arm of French mobile operator Orange for 147.8 million euros (193.5 million dollars).
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The French state yesterday sold close to half its stake in Air France-KLM, Europe&#39;s biggest carrier, cutting its share to around a quarter, in a fresh effort under new finance minister HervÃ© Gaymard to slash its debt and budget deficit below the eurozone
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PARIS The French government formally ceded control of France TÃ©lÃ©com on Wednesday as it began the sale of up to E5.8 billion of shares in the second-largest European phone company.