France Télécom cleans up its act



France Télécom’s de-leveraging and recapitalisation, which began in the first quarter of last year, is paying dividends for the French telecom operator as it received a positive outlook from Moody’s last month.

The rating agency’s outlook change stems from France Télécom’s (FT) positive steps in reducing its debt burden to €58.9 billion from over €70 billion and improving operational cashflow. Longer term, the company’s fortunes depend on how successful FT is in implementing its Total Operating

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