Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Ukraine politician thrown on rubbish heap

Read more

DEBATE

Holland on his own? - Socialist backbenchers abstain on confidence vote (part 2)

Read more

DEBATE

Holland on his own? - Socialist backbenchers abstain on confidence vote

Read more

THE INTERVIEW

'Iraq wants role for Iran in anti-IS coalition', says foreign minister

Read more

ENCORE!

Margaret Atwood: A Prophetic Writer in Paris

Read more

FOCUS

Italy: The search for missing migrants

Read more

WEB NEWS

News media urged not to show Islamic State group videos

Read more

IN THE PAPERS

Is Valls crying wolf?

Read more

IN THE PAPERS

Prospect of separation from Scotland stirs sadness in England and Wales

Read more

Iliad shares plunge after bid for T-Mobile

AFP

AFP Photo

Shares in French telecom company Iliad plunged by nearly 13.0 percent in early trading on Friday, pulling down the entire telecom sector after the company bid for US firm T-Mobile.

The price of shares in the company, which owns French low-price operator Free, were down 12.74 percent to 179.75 euros in an overall French market down 0.44 percent.

Shares in other French operators fell sharply.

Shares in Bouygues, which has a telecom arm, fell by 6.57 percent to 27.59 euros, in Orange by 2.94 percent to 11,41 euros, and in Numericable by 2.88 percent to 40.11 euros.

Late on Thursday, Iliad revealed it was bidding $15 billion (11.2 billion euros) for 56.6 percent of T-Mobile, controlled by German company Deutsche Telekom.

Its move offered T-Mobile, the fourth-biggest US wireless group, an alternative to a potential tie-up with rival Sprint.

The offer was described as 42 percent above what T-Mobile's price had been before reports of a potential Sprint tie-up began circulating.

Iliad is controlled by self-made tycoon Xavier Niel. Its subsidiary Free has thrown the French telecoms market into turmoil since emerging as a national cut-price operator, largely thanks to a capacity deal with French giant Orange.

Date created : 2014-08-01