Reports: France Telecom considers takeover of TeliaSonera
According to media reports, French telecommunications concern France Telecom, the company behind the well known mobile operator - Orange, is considering a takeover of Swedish network operator TeliaSonera. While the French daily Le Figaro puts the value of the takeover at €34bn, the Wall Street Journal citing inside sources gives a figure of €20bn to €22bn. According to the Figaro report, the merger is the subject of talks with the French government. France has a stake in the former monopoly.
France Telecom is also active in Spain, Poland, Great Britain and a number of Eastern European states. Most recently, the company has been engaged in business in Kenya and Jordan. TeliaSonera, currently valued at 23 billion euro, was formed by the merger of the two state-owned companies, Telia (Sweden) and Sonera (Finnland). Both countries still own stakes in the carrier, but according the Financial Times Deutschland, Sweden wants to part with its shares. The merged company would create a new heavyweight on the European telecommunications market, closing ranks with the leading companies, Vodafone and Telefonica.