This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Equant Soars on Reported Interest from France Telecom, Global Crossing

Updated from 7:39 a.m. EDT

Shares in Dutch telecom company Equant NV (ENT) jumped today following a report it was the object of affection for two large telecommunications companies.

Both France Telecom (FTE) and U.S.-based Global Crossing (GBLX) have their eyes on Equant, which could sell for as much as $10 billion, according to a report in Tuesday's Wall Street Journal.

Shares in Equant were up 6 7/16, or 15%, to 48 13/16 in afternoon trading Tuesday. (They finished up 6 3/4, or 16%, at 49 1/8.)

According to the report, the more likely scenario is France Telecom buying Equant. France Telecom had an exclusive right to negotiate with Equant, but it recently expired.

Equant, whose market capitalization was around $8.5 billion before today's run-up, owns a 50-year-old airline-reservation system and now offers other high-speed telecommunications services. Equant aims to provide private communications networks to companies with subsidiaries scattered around the globe.

France Telecom recently announced a $47.89 billion buyout of British mobile phone company Orange.

Ian McLean, a spokesman for Global Crossing in the Bahamas, declined to comment. Similarly, a spokesman for Equant said the company did not comment on "market rumors." A representative from France Telecom could not be immediately reached.

Shares in Global Crossing lately slipped 5/8, or 2%, to 28. France Telecom was up 15/16, or 1%, to 153 7/8. (Global Crossing ended down 1/16, or 0.2%, at 28 9/16. France Telecom ended up 2 1/2, or 2%, at 155 7/16.)

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs