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France Telecom not reviewing Mobistar stake - CEO in paper
December 4, 2012 / 6:56 AM / 5 years ago

France Telecom not reviewing Mobistar stake - CEO in paper

BRUSSELS, Dec 4 (Reuters) - France Telecom is not interested in selling its stake in Belgian mobile operator Mobistar and will not buy out the rest of the company in which it has a majority stake, its chief executive told Belgian dailies De Tijd and L‘Echo.

The French group owns 52.9 percent of Mobistar. Media reports have said it may either dispose of its stake, as it has done with units in Austria and Switzerland, or buy out the rest.

Chief Executive Stephane Richard said that he was glad he did not take full control of the Belgian group last year, because of a difficult environment in its French home market.

“That’s why buying out the minority shareholders in Mobistar is not on our agenda today,” Richard told De Tijd.

Richard added that he saw no reason to leave Belgium as the current regulatory environment was favourable.

The Belgian regulator has pushed for operators such as Mobistar, which do not own a fixed network, to get access to the networks of Belgacom and Telenet to offer broadband and TV products.

“France Telecom has been in the Belgian market for 17 years, we have no plans to leave,” Richard said.

Mobistar has struggled in recent quarters, as without access to a fixed network it found it more difficult to match the bundled products - which include mobile and fixed telephony, broadband and TV access - offered by Belgacom and Telenet. (Reporting by Robert-Jan Bartunek; Editing by Louise Heavens)

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