France Telecom-Orange confirmed its intention to sell minority stakes in its strategic plans for the 2011-2015 period.
In a release, the company said it did not expect over the long term to remain a minority shareholder of assets in which it did not…
France Telecom-Orange confirmed its intention to sell minority stakes in its strategic plans for the 2011-2015 period.
In a release, the company said it did not expect over the long term to remain a minority shareholder of assets in which it did not exercise an operational role.
France Telecom owns 35% of Orange Austria and 20% of Portugal’s Sonaecom.
A spokesperson said that the minority investment in Meditel in Morocco and Korek in Iraq made over the last year would not be considered for divestment.
France Telecom has divided its plan into a so-called initial adaptation phase (2011-2013), when it will invest in its networks and markets with a view to anticipating new applications and customer needs. In the 2014-2015 phase, the group will aim to return to sustained growth of both revenues and operating cash flow.
The company said it forecast cumulative CAPEX of about E18.5bn, including E1bn for fibre deployment in France for the 2011-2013 period. In 2014-2015, CAPEX will equal E9.8bn plus E1bn for FTTH development in France.
France Telecom target is to reach E45bn cumulative EBITDA in the 2011-2013 period. It forecasts gross savings of at least E3bn by 2015 in comparison to the cost base in 2010.
