Don't have a login yet?
Sign up now
20 February 2013
| Laura Hedges
France Telecom’s net profit plummeted from €3.8 billion in 2011, to €820 million last year in part due to a €1.84 billion impairment charge in three international markets.
The French operator faced the charge on goodwill and assets
in 2012 for its operations in Poland, Egypt and Romania.
"We've seen risks intensify in some of our geographies, so
French operator Orange has reached a deal to acquire fixed-line company Jazztel in a bid to bolster its position in the Spanish market.
Orange is targeting growth in Spain and is looking at potential acquisitions in the country, according to the company's CEO.
Orange has said there is an urgent need for consolidation in France and a move could be made in the coming weeks.
French market leader Orange and rival operator Bouygues are reportedly looking at options to merge after calls from the country’s government for further consolidation in the market.
French operator Orange has launched an international partnership programme – Orange Alliance.
French operator Orange has appointed the country’s treasury chief Ramon Fernandez as the company’s new CFO.