Feeds

France Telecom begs for tax-payer bail-out

Will it pass muster with the EU?

  • alert
  • submit to reddit

Internet Security Threat Report 2014

ComputerWire: IT Industry Intelligence

France Telecom SA managed 10% revenue growth in the first half and is on course to sustain the expansion rate for the full year. But weighed down with $56bn in debt, the company has confirmed that it is in talks with its largest shareholder, the French government, and the French taxpayer is likely to be forced to bail the company out.

Reports from Paris suggest that the treasury is mulling alternatives that include backing a new bond issue, subscribing to a new issue of preference shares or giving the company a loan. Any deal would have to be approved by the European Union, which is expected to take a skeptical approach, as the French government is underwriting an expansion policy that no commercial company could afford.

France Telecom was able to boost first-half revenue by 10% to 22.5bn euros ($22.5bn) as a 5.8% decline in its fixed-line voice and data services was offset by growth on its Orange mobile operation, Wanadoo ISP and portal business, and international voice and data services.

With its debt expected to rise to $70bn by the end of the year, the company has agreed to sell its broadcast unit TDF for $1.6bn and its Dutch cable operator Casema. Satellite operators Eutelsat and Stellat have also been earmarked for disposal.

© ComputerWire

Providing a secure and efficient Helpdesk

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.