France Telecom: Acquires Majority Stake In Jordan Telecom

PARIS -(Dow Jones)- France Telecom said Friday it has paid about EUR145 million to take a majority stake in Jordan Telecom.

Under the terms of the deal, France Telecom bought a 10% stake to top the 40% share it has owned since January 2000 and exercised an option to purchase an additional 1% for EUR14.5 million.

This brings the total cost of the announced purchase on Friday to EUR159.5 million.

France Telecom has been actively pursuing telecom companies in the Middle East and Eastern Europe but has found itself consistently priced out of some of the bigger deals due to competition from Arab investors.

-By Nina Sovich and Greg Keller, Dow Jones Newswires; 00 33 1 4017 1755; nina.sovich nina.sovich@dowjones.com@dowjones.com

(END) Dow Jones Newswires"

Posted to the site on 30th June 2006