By Kate Hanaghan, 8 March 2002 11:30
NEWS The ongoing row between Mobilcom and France Telecom could leave mm02 sitting pretty and ripe for takeover. Yesterday the markets responded positively pushing mm02's share price up by more than seven per cent at one point. France Telecom has a 28 per cent stake in the German company while its mobile arm Orange could potentially buy a 43 per cent stake from Mobilcom founder Gerhard Schmidt If France Telecom and Orange extract themselves from the alliance, mm02 - could be well positioned for acquisition. France Telecom has been wrangling with Mobilcom for some time over the terms of their partnerships. Most recently, the auditors were called in to investigate the purchase of a five per cent stake of Millennium, a company owned by Schmidt's wife. This morning, mm02 was trading down by two per cent to 70p.
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