French, German telecoms sign joint venture
France Telecom sings joint venture deal with Deutsche Telecom
- On 2:53 pm EST, Thursday November 5, 2009
PARIS (AP) -- France Telecom and Deutsch Telekom have signed the final agreement on a 50-50 joint venture combining their operations in Britain, Orange and T-Mobile.
Talks on the joint venture had been launched in September and the final, binding agreement was signed Thursday.
France Telecom says approval of the relevant authorities in their countries, a necessary condition for the deal to go through, was expected in the first half of 2010.
Deutsche Telekom Chief Financial Officer Timotheus Hoettges had said earlier in the day that agreement was close to completion.
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