France Telecom SA is on the look-out for overseas acquisitions. Finance director Gervais Pellissier said: ‘Engines of growth are to be found outside Europe.’
The company also pre-announced its full-year figures in February so it was no surprise to see net income fall 25% to 4.7bn euros ($6.2bn) on revenue 7.5% higher at 51.7bn euros ($67.7bn).
Income was hit by impairment of goodwill and an increase in restructuring costs. France Telecom has set a target of organic cash flow of 6.8bn euros ($8.9bn).