France Telecom improves offer for TeliaSonera: report

0 Comments | AFP, June, 2008

PARIS (AFP) — France Telecom was in talks to take over TeliaSonera after improving its offer for the Swedish-Finnish operator, the Wall Street Journal reported in its online edition on Monday.

Earlier this month, France Telecom made a preliminary offer of 33 billion euros (53 billion dollars) for TeliaSonera in a bid to create the world's fourth-biggest mobile operator, but the Nordic operator immediately rejected it as "significantly" undervaluing the company.

Citing people familiar with the talks, the WSJ said France Telecom had raised the price of the stock component of its offer, but it was still under 60 Swedish kronor per share.

France Telecom's earlier offer comprised 52 percent cash and 48 percent in shares, with the cash component pitched at 63...