Confirming the rumours (see EI of 20 & 21 March), FRANCE TELECOM is to take a 28.5% stake in the German telephone services company MOBILCOM (1.25 bn euro turnover in 1999 with a workforce of 2,900) for 3.74 bn euro. This operation will be achieved through a reserved capital increase concerning 18.6 million new shares at a unit price of 201 euro, valuing MOBILCOM at 9.47 bn euro. According to the agreement, TELECOM FRANCE will have the possibility, from 2003, of buying the shares belonging to...