Feeds

France Telecom flees Mobilcom

Mostly

  • alert
  • submit to reddit

Remote control for virtualized desktops

France Telecom has flogged its 27.3 per cent stake in German cellco MobilCom AG to US private equity outfit Texas Pacific Group (TPG).

The deal nets France Telecom €265m and it continues to own one per cent in MobilCom. In a statement yesterday the company said that the transaction "reflects the withdrawal of France Telecom from the German residential and mobile market".

Mobilcom chairman Dr Thorsten Grenz "welcomed the commitment of TPG" and said the move would "lead to a substantial stabilisation in the shareholder structure".

France Telecom's effective exit from Mobilcom brings to a close a disastrously expensive attempt, costing €11bn, to build a big mobile business in Germany.

Last month Mobilcom shareholders voted to sue France Telecom for damages - against the wish of the Mobilcom board, which said that the company had caused it no harm. ®

Related stories

Mobilcom returns 3G licence
E-Plus snaps up Mobilcom's 3G hardware
MobilCom posts huge 3G write-down

Beginner's guide to SSL certificates

More from The Register

next story
Mighty Blighty broadbanders beg: Let us lay cable in BT's, er, ducts
Complain to Ofcom that telco has 'effective monopoly'
Download alert: Nearly ALL top 100 Android, iOS paid apps hacked
Attack of the Clones? Yeah, but much, much scarier – report
Broadband sellers in the UK are UP TO no good, says Which?
Speedy network claims only apply to 10% of customers
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Fujitsu CTO: We'll be 3D-printing tech execs in 15 years
Fleshy techie disses network neutrality, helmet-less motorcyclists
Facebook, working on Facebook at Work, works on Facebook. At Work
You don't want your cat or drunk pics at the office
Soz, web devs: Google snatches its Wallet off the table
Killing off web service in 3 months... but app-happy bonkers are fine
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
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.
10 ways wire data helps conquer IT complexity
IT teams can automatically detect problems across the IT environment, spot data theft, select unique pieces of transaction payloads to send to a data source, and more.
5 critical considerations for enterprise cloud backup
Key considerations when evaluating cloud backup solutions to ensure adequate protection security and availability of enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?