France Telecom has denied talks about a potential transaction with JFSC Sistema, while Sistema said it has not received an offer from FT.
Spokespeople for both companies commented on reports claiming that their companies are discussing a potential…
France Telecom has denied talks about a potential transaction with JFSC Sistema, while Sistema said it has not received an offer from FT.
Spokespeople for both companies commented on reports claiming that their companies are discussing a potential deal.
The reports had suggested that talks are being held about a transaction, which could see France Telecom acquiring a controlling stake in Russian mobile operator Mobile TeleSystems (MTS), which is majority owned by Sistema. In return Sistema could acquire a small stake in France Telecom itself, the reports suggested.
A spokesman for the French incumbent denied the reports.
A Sistema spokeswoman said that “we haven’t got any offer from France Telecom”, but also said that Sistema is “periodically” in talks with “all major telecom players” in order to search for opportunities in the telecoms market.
She added that Sistema is interested in finding “new drivers” to make MTS a global player.
Sistema holds a 50.8% stake in MTS.
MTS operates in Armenia, Russia, Ukraine and Uzbekistan.
France Telecom’s Orange Business Services currently provides services to 4,000 customers in Russia. It also has a unit in Armenia, Orange Armenia, which provides voice and mobile broadband services.
