Technology

France Telecom and Deutsche Telekom offer US Sprint share

Two telecoms giants, France Telecom and Deutsche Telekom are to sell their shares in Sprint thereby ending a seven year troublesome relationship, helping them to focus on their core European operations and reducing escalating debts.

CBR Staff Writer May 16, 2001

The companies at present have a 19.8% stake in the US firm, valued at around $3.8 billion.

France Telecom produced a company statement today, in which it stated that it would offer 75.9 million Sprint shares to investors, with an additional offer of 11.4 million. Deutsche is planning the same.

In total France Telecom and Deutsche Telekom own approximately 175 million shares in Sprint.

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