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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (7412)	9/16/1999 12:38:00 PM
From: djane	Read Replies (1) \| Respond to of 29987

France Telecom 1st-Half Profit Rises 16% on Surge in Mobiles By Daniel Tilles at Bloomberg News 15 September 1999 France Telecom SA, Europe's second-largest phone company, said first-half profit rose 16 percent, boosted by growth in its mobile telephone business. Profit from operations for the first six months rose to 2.5 billion euros ($2.6 billion) from 2.2 billion euros a year ago. Profit from operations from the company's mobile unit more than quadrupled, soaring to 374 million euros from 70 million in the year-earlier period. France Telecom, along with rivals across Europe, is benefiting from booming cellular phone and Internet use. It expects to have 8 million mobile phone clients by the end of the year, up from 5.45 million at the end of 1998. Subscribers to its Wanadoo Internet service should more than double to 1 million. "Their volume growth is very good and is led by their Internet and mobile services," Jonathan Shantry, an analyst with Credit Lyonnais Securities in London, said before the earnings were released and who rates the shares "buy." "The full benefit of the growth in mobile won't be felt, however, until 2000 due to the lag in applying the revenue to earnings." France Telecom shares closed down 0.15 euros, or 0.2 percent, at 73.85 euros ($76.66) in Paris. In New York, the company's American depositary receipts fell as much as 3/4, or 0.97%, to 76 1/4. The company reported first-half figures after the close of trading at the French stock market. The biggest phone company in Europe is Germany's Deutsche Telekom AG. Copyright 1999, Bloomberg L.P. All Rights Reserved.