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Orange interested in potential merger with Telecom Italia

2015-03-02 08:51:00| Telecompaper Headlines

(Telecompaper) Orange is interested in a potential merger with Telecom Italia, Orange chairman and CEO Stephane Richard told Le Journal du Dimanche. "There are no negotiations, simply an exchange of views with directors, but it could be a good opportunity for European consolidation," he said. "It is not a competitor and our European strategies could be complementary," according to Richard. Orange's CEO is looking at Telecom Italia's operations in its home market, much more than those of its subsidiary in Brazil. The latter could be sold for nearly EUR 20 billion to repay Telecom Italia's debt and raise its share price. Separately, a Telecom Italia spokesman told Bloomberg that there are neither talks nor "exchanges of views" with Orange.

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