December 13, 2011 / 6:47 PM / 8 years ago

France Telecom gets five offers for Swiss unit

PARIS, Dec 13 (Reuters) - France Telecom said that it had received five offers in its auction of its Switzerland unit and aimed to sign a deal with the eventual winner early next year.

“The offers are all of good quality and in line with our expectations,” said a spokesman on Tuesday. “Each of the offers is self-financed with certain funds.”

France Telecom declined to say who the bidders were.

As part of a broad portfolio review, France Telecom is seeking to exit Switzerland where it lags in third place in terms of market share behind leader Swisscom and Sunrise, which is owned by private equity firm CVC.

France Telecom has said it hopes to reap 1.5-2 billion euros from the sale and has pledged to return up to 800 million euros of the proceeds to investors via share buybacks. (Reporting by Leila Abboud)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below