JULY 1, 2002
France considers telecom re-nationalization
Shares in France Telecom have fallen 79% in value this year alone and are now trading at nearly a third of what they were worth when the company was floated in the autumn of 1997. The move would probably be challenged by the European Union competition authorities but it would avoid the need for the government to refinance the company.
Orange's future in Grand Prix racing is, at best, uncertain and a buyback of the company from private investors would probably mean that the company would need to economize more than is currently the case...