France Telecom has once again said that it is not interested in taking another stab at acquiring TeliaSonera. When news broke that the French telecom giant might buy the Nordic telco, TeliaSonera's shares increased about 5 percent in early trade. However, France Telecom maintains it has no interest in acquiring TeliaSonera. "We deny having any discussions with TeliaSonera," a spokesman said in a statement.
This is not the first time news has emerged about the telco giant buying its Nordic neighbor. Last year, France Telecom had to abandon a $40 billion hostile takeover bid for TeliaSonera after it got poor reception from the stock market. And while France Telecom believes that the European telecom market needs to consolidate, the service provider said earlier this year that the world's dire economic condition is making it "impossible" to conduct any large deals for about a year.
One unnamed analyst said the benefits were questionable. "If this (rumor) is correct, I don't understand the basis for the deal. I have a hard time seeing any greater financial gains," said the analyst.
- Reuters has this article
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