Bouygues admits partner talks

Leading French telco Bouygues Telecom has admitted it is looking for a new strategic partner only two months after it denied it would open its doors to other shareholders.

By Suzanna Kerridge, 5 December 2000 16:19

NEWS The telco claimed it wanted a partner to help bid for a French UMTS licence. Telecom Italia had been in discussions with the French telco to increase its participation in Bouygues but the talks faltered two weeks ago over a price disagreement. A spokesman said: "The Bouygues Group - which is the majority shareholder in Bouygues Telecom - is ready to expand its capital by taking onboard a new strategic partner. It is already in discussions with a limited number of companies to enable the development of Bouygues Telecom, in the event of the prolonged talks with existing partner Telecom Italia." Martin Bouygues, president of the Bouygues Group, denied in September that it was in talks with NTT DoCoMo, KPN, Hutchison or Deutsche Telekom. Buoygues Telecom's current shareholders include JC Decaux, Bouygues Online, German group E.On and French bank BNP Paribas.

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