Changes

In 2000, France Telecom purchased Orange, a mobile phone operator based in United Kingdom owned by Vodafone AirTouch for 40.3 billion dollars.  The transaction allowed the company to combine its cellular business with Orange to create the second largest mobile phone company in Europe. A major move for France Telecom to position the company as the European leader and global player in the telecommunications industry. <ref>[http://money.cnn.com/2000/05/30/deals/orange/ France Telecom to form Europe's No. 2 mobile firm after buying UK player]</ref> In 2001, France Telecom formed the Orange Telecom Plc. and sold 15% of its shares during the Initial Public Public Offering.<ref>[http://www.prweb.com/releases/Orange/Tuesday/prweb2362604.htm Orange Tuesday happy birthday to Orange Telecom which celebrates its fifteenth irthday with an unusual twist - cupcakes]</ref> In 2003, the company bought back the 13 percent minority shares it does not own worth $ 7.8 billion dollars. This decision was prompted by a bill passed by the French government granting France Telecom the option to buy out the minority shareholders of Orange and Wanadoo, the company's internet business division.<ref>[http://edition.cnn.com/2003/BUSINESS/09/01/france.telecom.reut/ France Telecom in Orange buyout]</ref> At present, Orange has more than 144 million customers. In 2007, Milward Brown Optimor ranked the company as one of the world's most powerful brands.

In 2000, France Telecom purchased Orange, a mobile phone operator based in United Kingdom owned by Vodafone AirTouch for 40.3 billion dollars.  The transaction allowed the company to combine its cellular business with Orange to create the second largest mobile phone company in Europe. A major move for France Telecom to position the company as the European leader and global player in the telecommunications industry. <ref>[http://money.cnn.com/2000/05/30/deals/orange/ France Telecom to form Europe's No. 2 mobile firm after buying UK player]</ref> In 2001, France Telecom formed the Orange Telecom Plc. and sold 15% of its shares during the Initial Public Public Offering.<ref>[http://www.prweb.com/releases/Orange/Tuesday/prweb2362604.htm Orange Tuesday happy birthday to Orange Telecom which celebrates its fifteenth irthday with an unusual twist - cupcakes]</ref> In 2003, the company bought back the 13 percent minority shares it does not own worth $ 7.8 billion dollars. This decision was prompted by a bill passed by the French government granting France Telecom the option to buy out the minority shareholders of Orange and Wanadoo, the company's internet business division.<ref>[http://edition.cnn.com/2003/BUSINESS/09/01/france.telecom.reut/ France Telecom in Orange buyout]</ref> At present, Orange has more than 144 million customers. In 2007, Milward Brown Optimor ranked the company as one of the world's most powerful brands.

==French Government Ends France Telecom Control==

==French Government Ends Majority Control Over France Telecom==

In 2004, the French government decided to end its majority control over France Telecom and sold as much as 299 million shares reducing its stakes to the company to less than 50 percent. The sale was initiated by then Finance Minister Nicolas Sarkozy to cut the public debt of France and bring it within the standard limitation (60% of gross domestic product) set by the European Union. Sarcozy's hope in reducing the government's holdings in the company will ""increased room to maneuver in order to adapt to future developments in the telecommunications market."<ref>[http://www.nytimes.com/2004/09/02/news/02iht-ftel_ed3_.html?pagewanted=1&_r=1 Paris cedes control of telephone company]</ref>At present, French government owns 27 percent stakes in the company.

In 2004, the French government decided to end its majority control over France Telecom and sold as much as 299 million shares reducing its stakes to the company to less than 50 percent. The sale was initiated by then Finance Minister Nicolas Sarkozy to cut the public debt of France and bring it within the standard limitation (60% of gross domestic product) set by the European Union. Sarcozy's hope in reducing the government's holdings in the company will ""increased room to maneuver in order to adapt to future developments in the telecommunications market."<ref>[http://www.nytimes.com/2004/09/02/news/02iht-ftel_ed3_.html?pagewanted=1&_r=1 Paris cedes control of telephone company]</ref>At present, French government owns 27 percent stakes in the company.<ref>[http://www.leadersmag.com/issues/2011.1_Jan/ROB/LEADERS-Didier-Lombard-France-Telecom.html The Future of Telecommunications: An Interview with Didier Lombard, Chairman of the Board, France Telecom]</ref>

==References==

==References==