France Telecom hit by entry of new mobile operator
PARIS May 3 (Reuters) - France Telecom's revenue and operating margins deteriorated in the first quarter as its key home market was shaken by tough competition from a new ultra-low-cost mobile operator.
The former state-owned monopoly lost 615,000 net clients in France in the period after Iliad touched off a price war when it launched its aggressively priced Free Mobile offers in mid-January.
France Telecom confirmed its guidance for operating free cash flow of 8 billion euros ($10.52 billion) this year.
The group's overall revenue fell 1.8 percent to 10.92 billion euros, while earnings before interest, tax, depreciation and amortisation (EBITDA) reached 3.43 billion euros.
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