France Telecom (FT) said it intends to sell its two per cent stake in Deutsche Telekom (DT) as the two carriers continue their court battle.
FT has accused its partner of a "fundamental breach" of their strategic alliance, while a spokesperson confirmed reports in a German newspaper that the company planned to sell the stake, which it believes is worth $2 billion.
The sale would, however, place a question mark over the future of the many collaborations between the two suppliers, including their partnership in worldwide carrier Global One and their joint work in multimedia, information systems and phone cards.
They acquired a two per cent stake in each other only a year ago to seal their historical and wide ranging relationship. But the situation turned sour when FT slapped a lawsuit on DT, after the latter mounted a bid for Telecom Italia. The Italian carrier competes with another local operator in which FT and DT hold interests.
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