EUROPE: France Telecom Wants Wanadoo
May 7, 2004
France Telecom wants to buy out investors in its Internet service provider Wanadoo.
The French telecommunications services provider plans to launch a tender offer to acquire the remaining 29.4% stake it does not already own in the ISP.
The cash-and-shares bid was valued at about $4.9 billion.
If the buyout goes as planned, France Telecom says it may consider a partial initial public offering of its Pages Jaunes, or Yellow Pages, directory business.
Copyright Global Finance Media Inc. Apr 2004