In a US $ 32.9bn deal , France Telecom acquired Orange in 2000 from Vodafone , establishing the company as the second largest mobile company in Europe at the time . As part of the acquisition , France Telecom merged Orange , Itineris and its other mobile activities to create ‘ New Orange ’, and taking on US $ 2.3bn of its debt . “ The acquisition of Orange and the creation of New Orange is a major step in France Telecom ’ s international strategy to become a European leader and global player ,” commented Michel Bon , Chairman , France Telecom .

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MAY 30 2000 businesschief . eu