France Telecom opens talks on $42 billion takeover bid for TeliaSonera
France Telecom had opened talks on a $42 billion takeover bid for TeliaSonera that would create the world’s fourth-largest telecommunications operator. The Swedish telecom immediately dismissed the bid as to low, sending it shares jumping nearly 7 percent to 57.75 kronor ($9.56) with some analysts in agreement.
France’s dominant telecom operator stopped short of a formal offer, but said it’s bid would amount to a 39 percent premium on TeliaSonera shares based on an April 15 closing price, when reports first surfaced that France Telecom had the backing of the French government.
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