France Telecom buys GTL's enterprise division
July 15, 2007
France Telecom has announced the acquisition of the enterprise and managed services divisions of GTL. The deal is reportedly valued at Rs 2.5 billion. The acquisition will be made through Orange Business Services, the business communications arm of France Telecom. The deal marks the reentry of France Telecom into the Indian market. The company had sold its 26 per cent stake in BPL Mobile in 2003. The GTL deal will enable Orange Business Services to address the enterprise network space in India. Meanwhile, GTL is expected to use the funds to acquire network service companies.
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