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France Telecom makes $4.3bn Polish purchase

By Will Sturgeon

Published: Tuesday 25 July 2000

France Telecom and Polish partner Kulczyk have signed a $4.3bn deal with the Polish treasury to acquire a 35 per cent stake in Poland's largest fixed-line operator Telekomunikacja Polska (TPSA).

France Telecom will take a 25 per cent stake in TPSA while its partner Kulczyk Holding, will have 10 per cent.

The consortium has agreed to back a $6bn, seven-year investment programme for TPSA.

The deal comes in the wake of France Telecom's failed $10bn attempt to buy into French data network operator Equant, which fell apart after the two sides failed to agree on a price.