Gervais Pellissier, CFO of France Telecom, the owner of OrangeRomania, one of the biggest local companies, caused a stir on theentire market on Tuesday by announcing a review of the Romanianbusiness, which brings the French group 1 billion euros in annualrevenues and a profit of nearly 300 million euros. The review isset to examine France Telecom's consolidation opportunities andeven a possible sale of operations in Austria, Belgium andRomania.
The group sent details on what "a review of operations" meant onTuesday evening, at ZF's request, and on Wednesday sent an officialpoint of view, this time in Romanian, in order to avoid translationinterpretations, which included more details.
"At worst, we might decide to sell operations following thisreview, but at the same time the review could result inconsolidation projects (such as the joint venture in the UK, themerger proposal in Switzerland or projects for the joint use of thePoland/Austria network)," according to official statements ofFrance Telecom.
The group insists that "at present it is not planning to sellRomanian operations" and that "at present no decision to sell or toconsolidate operations on any European market has been made, norare we in the process of implementing any such project."
As for the duration of the review, the group specified it wouldbe carried out "over the next few months and weeks", with theindicators considered for the review being the "real potential tocreate value or growth for these assets."
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