France Telecom offers to complete Wanadoo purchase

Former state monopoly France Telecom has offered to purchase the 29% of shares it does not already own in its internet service provider Wanadoo.

The offer values Wanadoo at around €13bn.

France Telecom is attempting to identify ways of boosting revenue as demand for more traditional fixed-line services have declined.

The company has said the Wanadoo buyout is a major step in its online strategy.

France Telecom said it expected to get clearance for the deal from the market watchdog at the start of March.