S&P: France Telecom unchanged

Standard & Poor's said its ratings and outlook on France Telecom SA (A-/stable/A-2) are unaffected by the group's announcement that, together with Mid Europa Partners, it has been selected to acquire One GmbH.

The agency noted that the transaction will not require any cash outlay by France Telecom and will hence have no impact on its net-debt ratio targets.

According to S&P, this further demonstrates France Telecom's commitment to complying with its stated conservative financial policy target of net debt to EBITDA of 2x by year-end 2008.

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