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France Tel seeks acquisitions in emerging mkts

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CIOL Bureau
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PARIS: France Telecom has started to seek acquisition targets in emerging markets again, especially in Africa, Chief Executive Stephane Richard told daily newspaper La Tribune.

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The new CEO of the French telecom group added that the company would decide within a month on a strategy for its content business.

"We are starting intense work again to identify opportunities in emerging markets. And Africa has great potential. I ask you to be a bit patient," Richard was quoted as saying.

France Telecom had looked at African assets belonging to Zain, but did not agree with the valuation of the target, he added. He did not rule out other transactions alongside Egyptian partner Orascom Telecom.

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