France Telecom set to buy Orange

NEWS France Telecom is on the verge of acquiring UK mobile phone operator Orange for around £30bn, according to a report in the Financial Times. MCI Worldcom was also rumoured to be interested in doing a deal with Vodafone - Orange's current owners - but it's understood that the latest discussions with France Telecom are exclusive. If successful, the French telco will be a major player in the UK's next generation mobile services. France Telecom was one of the unsuccessful bidders in the 3G auction which ended last month, but Orange did secure one of the five licences for around £4bn. An official announcement is expected early next week.