France Telecom takes control of Jordan Telecom

30th June 2006, Comments 0 comments

PARIS, June 30, 2006 (AFP) - France Telecom said Friday that it had taken control of Jordan Telecom by purchasing an additional 10 percent stake in the telecommunications operator from the government of Jordan for EUR 145 million (184 million dollars).

PARIS, June 30, 2006 (AFP) - France Telecom said Friday that it had taken control of Jordan Telecom by purchasing an additional 10 percent stake in the telecommunications operator from the government of Jordan for EUR 145 million (184 million dollars).

France Telecom also has an option to buy another one percent stake for EUR 14.5 million from the government, which is selling off its entire 41.5 percent holding in the telecoms group.

A consortium led by France Telecom already owns 40 percent of Jordan Telecom, having acquired the stake in 2000.

The Jordanian government also sold 10 percent stakes in the company to the Gulf Finance House of Bahrain and the Al-Nour group of Kuwait, while the Jordan Social Security administration bought 5.0 percent, and various civil servant groups took 1.0 percent.

Copyright AFP

Subject: French News

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