France Telecom buys back €265.66 million Oceanes

By Angela McDaniels

Tacoma, Wash., Dec. 8 - France Telecom SA said it repurchased and cancelled €265.66 million, or 23.1%, of its 1.6% Oceanes convertible bonds due Jan. 1, 2009 between Nov. 26 and Dec. 2.

The repurchases were made under the company's Nov. 25 offer to buy back any and all of the convertibles for €2.614.60 each, according to a company news release.

The repurchases are in addition to the off-market purchases made in September and November.

In total, the Paris-based telecommunications company has repurchased 42.21% of the convertibles, and 257,505 of the convertibles remain outstanding.

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