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 French state's announcement that it will sell a 5% to 7% stake in the company.

The shares will be placed with institutional investors and will therefore not require any cash outlay by France Telecom, S&P noted.

The state will, through this sale, reduce its stake in France Telecom to between 25.5% and 27.4%, but will remain a significant shareholder in the company, the agency added.

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