FT to Buy TeliaSonera?
French news outlet Le Figaro reported the possible deal this morning, assigning that price tag to it. The Wall Street Journal claims it's confirmed that FT is considering the bid, reporting a price as low as €20 billion ($31.9 billion) according to an anonymous source.
Such a deal would help France Telecom bulk up in size. As Light Reading's carrier scorecards have shown, France Telecom is doing adequately on the earnings and subscriber fronts, although it's not a teacher's pet like Telefónica SA (NYSE: TEF). (See Scorecard: DT's Struggles Continue and Euro Scorecard: Another 'A' for Telefónica.)
TeliaSonera shares rose 11.6 percent on the Stockholm exchange today, up 5.20 Swedish kroner ($0.88) to SEK50 ($8.49). On the Paris exchange, France Telecom stock fell 6 percent, or €1.33 ($2.12), to €20.86 ($33.28). ― Craig Matsumoto, West Coast Editor, Light Reading