14 DAY TRIAL // France Telecom has announced the signature of an agreement with the Jordanian Government in Amman for the acquisition of 10% plus one share in the capital of Jordan Telecom, for a total of 129 million Jordanian dinars, representing approximately 145 million euros. This acquisition will be made through JITCO, a wholly-owned subsidiary of France Telecom, which has already held a 40% stake in Jordan Telecom since January 2000.
Following this transaction, which is expected to be finalized by the beginning of July 2006, France Telecom will hold a majority interest in Jordan Telecom as well as an option to purchase a further 1% in Jordan Telecom's capital, for a maximum amount of 12,9 million dinars representing approximately 14,5 million euros.
Jordan Telecom is the historical Jordanian telecommunications operator, providing fixed, mobile and Internet services. With this transaction, France Telecom is pursuing the implementation of its integrated operator strategy in Jordan Telecom, which generated 352 million Jordanian dinars (around 396 million euros) in revenues in 2005, up 4%, with 170 million Jordanian dinars (191 million euros) in EBITDA.
France Telecom serves 147 million customers on five continents (220 countries or territories) as of March 31, 2006, and reported consolidated revenues of 49 billion euros under IFRS in 2005 (12.8 billion euros for the 1st quarter 2006).