France Telecom acquires more stake in Jordan Telecom

French voice, data and Internet company France Telecom paid around 145 million euros to take a majority stake in Jordan Telecom, a company statement said.

In the statement, France Telecom said it purchased a 10% stake in Jordan Telecom, adding to the 40% share it had already owned since January 2000.

France Telecom has been seeking the purchase of telecom companies in Eastern Europe and the Middle East, but competition from Arab investors has reportedly priced the company out of some of the larger agreements.