FT ready to splash cash in Africa
France Telecom will deploy mobile and fixed-line broadband in Egypt now its dispute with partner Orascom has been resolved, CEO Stephane Richards says.
The Egyptian services will spearhead a push into other African markets, which Richards regards as a key part in advancing his plan to grow France Telecom’s presence in emerging markets, because other territories are already awash with big-name rivals.
Richards said the firm is ready to splash the cash to fund expansion in Africa, though he hinted that it wouldn’t pay over-the-odds telling journalists the firm is “ready to pay a good price,” WSJ.com reports.
The France Telecom boss outlined the plans after a press conference revealing the details of a truce with Orascom, which ends a long-running dispute over control of Mobinil – Egypt’s largest mobile operator.