Changes

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

==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.<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>

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>

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==