Shares in France Telecom to be priced at top end

Monday 06 October 1997 23:02 BST

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Shares in France Telecom

to be priced at top end

The French government has announced that the initial public offering of France Telecom will be priced at Fr187 (pounds 19.60) per share for institutional investors, at the top end of market expectations. Shares in the state telecommunications group will be offered to the public at Fr182 (pounds 19.08). The shares will start trading in Paris and New York on 20 October. A total of 209 million France Telecom shares will be on offer, of which 94 million are earmarked for retail investors and 115 million for institutions. The sale of the minority stake will raise Fr42bn (pounds 4.4bn).

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