France's Telecom is joining forces with Spain's Prisa (Promotora de Informaciones SA) and Nouvel Observateur weekly magazine owner Claude Perdriel to submit a bid for a majority stake in the daily newspaper. Reportedly, the consortium has its eye on a 34 percent ownership bid for the paper's online version, Le Monde Interactif.
Another triumverate consisting of Pierre Berge, an Yves St. Laurent Group partner; telecommunications mogul Xavier Niel and Matthieu Nagasse, a Lazard banker, reportedly has submitted a pre-offer to Le Monde. The Reuters account suggests the purchase price could reach 100 million euros ($122.8 million).
The French state has a 28 percent ownership interest in France Telecom.
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