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Publication Date: June 2008
EVENT SPOTLIGHT
On June 5, 2008, France Telecom (FT) offered US$42bn in cash and stock for Swedish-Finnish operator TeliaSonera (TS). Although TeliaSonera had rejected France Telecom’s offer, claiming it was “too low,” conversations are not expected to be over. Indeed, TeliaSonera’s major shareholder, the Swedish state, said that it would be interested in selling its stake. Five days later, despite not having made an official bid, Telenor announced that it is also interested in the stake. Pyramid Research believes that the French operator will insist on buying TeliaSonera since this acquisition would make France Telecom the fourth largest operator in the world and would allow it to enter fast-growing markets in Asia.
Author: Fernanda Naveiro
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