The second France Telecom share issue was launched on November 8 with applications invited from private investors. Conducted on three fronts - the sale of 2% of capital to the public operator's German partner Deutsche Telekom, the transfer of 5 to 7% of State-held capital, and a capital increase of about 5% - this operation will be the last undertaken by the current Socialist Government. On November 7, France's Economic Affairs Minister Dominique Strauss-Kahn, insisted "categorically" that there will not be a third share issue. Following the operation, the State will retain a majority stake in France Telecom with 62% of capital, compared with 75% prior to...

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