Changes

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> The French government sold 10.85 percent reducing its' company holdings to 42.25 percent. In 2005, the French government again offered $5.5 billion worth of its shares in the company to reduce its holding to less than 33 percent. The sale was initiated by then Prime Minister Dominique de Villepin.<ref>

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> The French government sold 10.85 percent reducing its' company holdings to 42.25 percent. In 2005, the French government again offered $5.5 billion worth of its shares in the company to reduce its holding to less than 33 percent. The sale was initiated by then Prime Minister Dominique de Villepin.<ref>

[http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aYPP4tXAYCqs&refer=europe France Sells France Telecom Stake to Reduce Debt]</ref>

[http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aYPP4tXAYCqs&refer=europe France Sells France Telecom Stake to Reduce Debt]</ref>

At present, French government owns 27 percent stakes in the company.<ref>

In 2007, when Nicolas Sarkozy became Prime Minister of France, the French government once again sold at least 5 percent of its holdings to the company to reduce the country's debt.<ref>[http://news.bbc.co.uk/2/hi/business/6236672.stm Share sale dents France Telecom]</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>

[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>