Printed from http://www.electronista.com

France Telecom backs out of TeliaSonera deal

updated 10:00 am EDT, Mon June 30, 2008

F Telecom Backs Off Telia

TeliaSonera today confirmed late-breaking rumors on Monday with the announcement that France Telecom has withdrawn its takeover bid for the company, putting an end to the potentially significant merger of the two companies. Sweden-based TeliaSonera maintains that France Telecom has not "significantly" improved its bid that was hinted at on Sunday and insists that the French firm would have undervalued TeliaSonera, which claims that it's strong enough without other companies' help.

France Telecom has declined comment other than to say it was unable to reach an agreement; the company is believed to have little room to negotiate a price without any rival bidders and with no urgent need to acquire the smaller company.

France Telecom runs the major European telecoms provider Orange and would have been one of the few non-native carriers to gain significant ground in Scandinavian countries by buying TeliaSonera, which commands a large portion of the market for cellular phone service and other businesses in its home territory.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. ZinkDifferent

    Fresh-Faced Recruit

    Joined: Jan 2005

    -1

    Which is what...


    ...Apple seems to be doing with Snow Leopard.

    It won't be Microsoft that's embarassed, it's the MacBU -- people need to realize that they are virtually different entities - even to the point where the MacBU is a laughing stock within Microsoft as well.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Advertisement

Recent Reviews

Seagate Wireless

It seems like no matter how much internal storage is included today's mobile devices, we, as users, will always find a way to fill the ...

Lenovo Yoga Tablet 2 (Android, 10.1-inch)

Lenovo is building a bigger name for itself year after year, including its devices expanding beyond desktop computers. The company's l ...

Brother HL-L8250CDN Color Laser Printer

When it comes to selecting a printer, the process is not exactly something most people put a lot of thought into. Printers are often t ...

Advertisement

toggle

Most Commented

 
toggle

Popular News