France Telecom CEO Stephane Richard has said the company intends to keep its majority stake in Belgian mobile operator Mobistar, but won’t take full control of the company.
Media have speculated the French incumbent may either sell off Mobistar, in…
France Telecom CEO Stephane Richard has said the company intends to keep its majority stake in Belgian mobile operator Mobistar, but won’t take full control of the company.
Media have speculated the French incumbent may either sell off Mobistar, in which it has a 52.9% stake, or launch a takeover bid.
However, Belgian newspapers L’Echo and De Tijd quoted Richard as saying France Telecom has no plans to exit the country, where it has operated for 17 years, particularly in light of its positive regulatory environment. The Belgian regulator has suggested Belgacom and Telenet grant other operators access to their fixed-line networks for broadband and TV services.
Nonetheless, Richard said that, given the current challenges in the French mobile market, a buyout of Mobistar is not in the business plan.
France Telecom has divested numerous non-core assets in other European nations, such as Austria and Switzerland, to focus on core operations and developing markets. However, in July, Richard was quoted as saying the company is prepared to make acquisitions in Europe again.
