France Telecom shares jump on British merger plan
Wednesday, 9 September 2009
PARIS, Sept 8 (AFP): Shares in France Telecom rose sharply Tuesday on news that it had joined Deutsche Telekom in talks that could lead to a merger of their British subsidiaries.
The share in late-morning trade was up 2.84 per cent at 18.64 euros on an overall market that was 0.35 per cent stronger.
Deutsche Telekom and France Telecom will seek to combine the former's T-Mobile UK and the latter's Orange UK in a jointly owned entity, Deutsche Telekom said.
With some 28.4 million clients, the new operator would have a 37-per cent market share of the British mobile sector, making it the biggest mobile operator, it added.
The current leaders are 02, owned by Telefonica of Spain, with 27.7 per cent, and Vodafone, with 24.7 per cent.
The share in late-morning trade was up 2.84 per cent at 18.64 euros on an overall market that was 0.35 per cent stronger.
Deutsche Telekom and France Telecom will seek to combine the former's T-Mobile UK and the latter's Orange UK in a jointly owned entity, Deutsche Telekom said.
With some 28.4 million clients, the new operator would have a 37-per cent market share of the British mobile sector, making it the biggest mobile operator, it added.
The current leaders are 02, owned by Telefonica of Spain, with 27.7 per cent, and Vodafone, with 24.7 per cent.