France Telecom drops bid for TeliaSonera

Updated Tuesday, July 1, 2008 0:00 am TWN, AP

France Telecom drops bid for TeliaSonera

PARIS -- France Telecom said Monday that it has withdrawn its proposal for a euro27 billion (US$42 billion) takeover bid for TeliaSonera, which would have created Europe’s largest telecommunications company. France Telecom said that “the dialogue opened with the board of directors of TeliaSonera was unable to reach agreement on its financial conditions.”

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