France Telecom has reportedly offered roughly $54 billion in an all-stock bid to acquire TeliaSonera, Sweden’s largest telecom, according to the online edition of the Wall Street Journal.
The proposed deal would provide access to emerging markets that France Telecom desires as well as allow it to compete more aggressively with Deutsche Telekom AG.
If France Telecom pursues the deal, it will be a challenging endeavor and will require some political wrangling as France Telecom is 27%-owned by the French government and TeliaSonera has 37% and 13.7% ownership by the Swedish and Finnish states, respectively.
Shares in France Telecom sank on news of the deal.
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