European telecomms operator Global Telesystems Group (GTS) hopes to gain a stronger foothold in the French market by taking a majority stake in local carrier, Omnicom.
GTS will invest $210 million (euro 194.6 million) for a 52 per cent share in Omnicom, France's second largest telecomms operator, and the purchase means it will now operate in 20 European countries, including the UK, Germany, Italy and Spain.
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