France Telecom Confirms Equant Talks
There were reports earlier Wednesday that France Telecom was close to an agreement to pay $10 billion for Equant and merge it with its own Global One unit. According to these reports, the companies were in talks earlier this summer, but broke them off when they couldn't agree upon a price.
According to the reports, the deal would first call for France Telecom to put about $1.2 billion into Global One and eliminate its long-term debt. Then Equant would acquire Global One in a stock deal. And in the final step, France Telecom would buy the 35% stake owned by a consortium of airlines, called SITA Foundation, which would give the French carrier a controlling position in the company.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV