French gov't to retain France Telecom stake

Rumors circulated after France Telecom's third quarter earnings report last week that the French government might be ready to sell some of its 26.79 percent stake in the nation's incumbent telco. However, government sources are now denying that is the case, according to published reports.

France's broadband market has proved to be one of the liveliest and most competitive in the world. France Telecom last week reported higher revenue for the third quarter, and its results in part were viewed as a bellwether for how Europe's major telcos might be faring amid global economic uncertainty.

For more:
- MarketWatch has a post of the government stake
- MarketWatch also has last week's earnings report

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