France Telecom denies takeover reports of Cable & Wireless

France Telecom denies takeover reports of Cable & Wireless

France Telecom has denied that it has any plans to takeover the rival telecom company Cable and Wireless in a strategic step to increase its domination in the region. The report was first published by a British Newspaper Sunday Telegraph yesterday and fueled speculation over a possible bid worth 4 billion pound by the French Communication giant.

A spokesperson from the company in fact called the rumor purely a case of fantasy. France Telecom happens to be the second largest telecom company in the European region. The newspaper had claimed that the acquisition would give FT access to the Britain’s second-biggest telecoms network followed by British Telecom.

British Telecom on their part recently launched a new product called BT Fusion in the market, which enables a consumer to use a single phone device as a mobile phone and on a landline connection. It is expected to be launched on a large scale later this year with company trying to fight back with the mobile companies, which have been taking away its customer since a long time.