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France Telecom’s Chief Finance Officer, Gervais Pellissier, speaking at a Santander conference in Lisbon this morning has indicated that after various contacts France Telecom study the conditions under which formal negotiations might take place.

These contacts have not addressed the price of an eventual offer. No firm offer has been formulated, the only indicative proposal being that communicated publicly on 5 June 2008.

France Telecom wishes that this situation should not extend beyond a reasonable period of time and also confirms that the Group could still withdraw from the project which is not indispensable to the execution of its strategy.

Gervais Pellissier added that the margin for manoeuvre on the cash...