France Telecom plans to sell European assets where it has minority stake

On Tuesday France Telecom (Paris, France) presented its strategic and financial ambitions for the next five years. According to its press release, France Telecom will be reviewing its portfolio of assets and is expecting to sell any assets where it is not a majority shareholder.

According to a France Telecom spokesperson, the company has indicated that they will specifically divest themselves of European companies were they have the minority stake, while concentrating on increased competition in France, as well as expanding their presence in Africa and the Middle East. This does not mean it will sell out of all assets in Europe.

With a fourth network provider entering France next year; France Telecom is preparing itself and its investors for increased competition.

In addition, France Telecom has perused markets in both Africa and the Middle East over the past year, and according to a spokesperson, already have a strong presence in both regions.

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