Luc --
Some times what appears innocuous isn't. In this case, if DT merges with TI, there's a chance FT will end its DT alliances and this would impact GlobalOne and therefore, NN.
Tonight's Financial Times sheds more light on the conflict:
<<<
Telecoms Shake-up April 30 1999
France Telecom may end Bonn ties
By Ralph Atkins in Bonn
Deutsche Telekom, the Bonn-based telecoms giant, last night expressed regret at clear indications that France Telecom, its international partner, is drawing up plans to sell its 2 per cent stake in the German former state monopolist.
France Telecom said it would dispose of its stake, acquired last July, if Deutsche Telekom succeeded with its plans to merge with Telecom Italia of Italy.
The possible German-Italian alliance has incensed the French group. It described it as an "explicit violation" of its agreement with Deutsche Telekom.
In an interview with Le Monde, the French newspaper, Michel Bon, France Telecom chairman, said the French group intended to defend its interests and signalled it could move back into the German market. Deutsche Telekom said it regretted the "escalation" of the dispute.
The breaking up of its links with France Telecom would be a serious setback for Deutsche Telekom, which has argued its merger with Telecom Italia would strengthen its other international alliances.
A rift between Bonn and Paris would heighten speculation over the future of Global One, an international joint venture between France Telecom, Deutsche Telekom and Sprint of the US.
It was unclear last night whether Deutsche Telekom would sell the 2 per cent stake it holds in France Telecom.
At the time of last July's share-swap, Mr Bon said the two companies wanted "to converge as quickly as possible our developments on European markets, invest several billion euros a year there together and build a real pan-European operator."
>>>>>
At the H&Q conference one of the luncheon speakers quoted Wayne Gretzky who when asked the secret of his success, said, "Others go where the puck is; I go where it's going to be."
Pat
|
