‘Tis the season for buying telecom companies! In breaking news out of Europe early this morning, France Telecom has made an offer to buy up Swedish phone company TeliaSonera for the tune of around $42 billion (252 billion kroner). There has not been any public offering yet, however a proposal has been sent to the suits of the company for consideration.
According to the WSJ, such an acquisition would give France Telecom around 237 million customers, thus becoming Europe’s largest telecom company by revenue. No decision has been made yet. This move coincidentally was made known the day after news broke that Verizon is in talks to buy out Alltel in attempt to become the U.S.’s largest telecom company.
By purchasing TeliaSonera, France Telecom would have an impressive European footprint stretching from the Arctic down to the Indian Ocean. We will keep you posted on any major breakthroughs in the upcoming days.
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