France Telecom eyeing 'four or five' MENA deals

Telco to invest US $8.6 billion in the region in next five years.
France telecom, Jordan telecom, Orange jordan, Telco, News, Broadcast Business


France Telecom is eyeing four or five acquisitions in the MENA region during the next five years and some deals could be concluded this summer, according the firm.

In April of this year the company said it was looking to invest a total of $8.6 billion in the region with acquisitions and minority stake purchases.

“Perhaps we will sign in the summer, perhaps it will take six months,” said Marc Rennard, executive director for MEA and Asia, France Telecom speaking to Bloomberg. “We don not want to deteriorate our Ebitda (earnings before interest, tax, depreciation and amortisation) ratio, but we need growth,” he added.

The firm’s CEO Stephane Richard has previously stated that the company will look to offset slowing growth in European markets by doubling its revenue from emerging markets. Last year the company drew around seven percent of its revenues from emerging markets.

France Telecom has a controlling stake in the Jordan Telecom Group, branded Orange Jordan.

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