Investors have been left scratching their heads over where exactly things stand with the heavily indebted France Télécom. At the start of September a rights issue in the €10 billion range backed by its largest shareholder the French state, with a 56% stake, looked like a sure thing.
No one doubted that even a €10 billion rights issue would still leave a hill to climb. At the time Banc of America Securities’ head of European credit research Peter Plaut wrote in a research note: “A rights
The week on Risk.net, July 7-13, 2018Receive this by email