Feeds

French prepare further France Telecom sell-off

More cash for the deficit, and a few billion for FT too

  • alert
  • submit to reddit

Top three mobile application threats

The French government is selling another 13 per cent of France Telecom, bringing its holding down to around 62 per cent. This assumes that the 2 per cent being bought by Deutsche Telekom for 8 billion francs will not be controlled in effect by France Telecom, because - surprise, surprise - FT is buying a share of DT for, you guessed it, 8 billion francs. The shares just offered were for 390 francs, and will yield some 36 billion francs, of which 23 billion will be retained by FT, and the rest go directly to the French government to help it with its deficit. The way in which the French government has bartered its ownership of France Telecom, or more particularly its pension fund, in order to meet the Maastricht criteria for monetary union has already gone down in history as one of the great conjuring tricks of all time, comparable only with Robert Maxwell's creativity in pension fund management. FT says it will be using the cash to fund its international expansion, with a seemingly absurd expectation of getting a third of its income abroad by 2006. Since only 2 per cent came from outside France in 1995, it has some way to go - but those fonctionnaires at FT should be giving some good parties with all that marketing money. Some of this cash may find its way moving towards some Internet-related activity, or even a face-lift for Minitel. It doesn't sound as though much will be done about speeding up data transmission. There is a distinct possibility that if FT cross-subsidises any services in competition with the private sector, it could find itself in Brussels answering some tough questions from DGIV, the European Commission's competition directorate, where the French have little influence at present.

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.