WANADOO (pro forma consolidated turnover of EUR 760.22 million notched up in the first nine months of this year), an Internet subsidiary of FRANCE TELECOM, is to make a public amicable exchange offer on the leading British provider of free Internet access, FREESERVE (cumulated turnover £19.6 million for the financial year ending end April), which makes the latter worth £1.651 billion. The move will propel WANADOO, which is already the leading French Internet access provider, to the top of the sector in the United Kingdom. According to the terms of the agreement, FRANCE TELECOM will propose 0.225 new WANADOO shares for every FREESERVE share. The transaction makes the share value of the British group 157.14 pence.