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EMP Europe, along with other members of a consortium of financial investors, agrees to sell its stake in Orange Slovakia

20 October 2005

France Telecom announced today the signature of an agreement with all the minority shareholders in Orange Slovakia to acquire their shares for a total cash consideration of US$ 628 million, to be paid before the end of this year.

Following the transaction, France Telecom will increase its indirect stake in Orange Slovakia from its current level of 63,88 % to 100 %. This transaction will have no impact on the Group net debt. 

This transaction enables France Telecom and Orange to consolidate their position in one of their key assets in Europe with high growth prospects. With more than 2.3 million customers, ie 57% of market share, revenue growth of 20% between 2003 and 2004 (€420 million in 2004) Orange Slovakia is the leading mobile operator in Slovakia.

Sellers include a consortium of financial investors led by AIG New Europe Fund, managed by an affiliate of AIG Capital Partners, AIG Emerging Europe Infrastructure Fund, managed by EMP Europe, Polish Enterprise Fund IV L.P., managed by Enterprise Investors, Innova/98 L.P. and Innova/3 L.P., managed by Innova Capital, Communications Venture Partners, Part'com FCPR, managed by Iris Capital, Metropolitan Life Insurance Company and the European Bank for Reconstruction and Development and Ladislav Rehak.

Concerning France Telecom 
France Telecom, one of the world's leading telecommunications operators, serves 127.5 million clients on five continents (220 countries or territories) as of June 30, 2005 and had consolidated sales of 47.16 billion Euros in 2004 by French accounting standards (46.16 billion Euros by IFRS standards). For the 1st half 2005, consolidated sales were 23.66 billion Euros by IFRS standards. Introduced in June 2005, the transformative NExT program (New Experience in Telecommunications) will permit the Group to pursue its transformation as an integrated operator and to establish it as the operator of reference for new telecommunications services in Europe. By 2008, its customers will have access to a universe of enhanced and simplified communications services notably through the Orange brand.

Number two mobile operator and provider of internet services in Europe and amongst the world leaders in providing telecommunication services to multi-national companies, France Telecom (NYSE:FTE) is listed on the Paris and New York stock exchanges.


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