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France Tel in Equant talks
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October 11, 2000: 4:07 a.m. ET
French firm confirms discussions on $7B deal, but says 'conditions not right'
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LONDON (CNNfn) - France Telecom SA confirmed Wednesday widespread rumors that it was in talks with data network operator Equant NV, but warned that no takeover would take place "under current market conditions".
Periodic rumors of a bid for Equant, a firm based in the Netherlands but listed in Paris, have caused wild gyrations in its share price.
"France Telecom confirms the existence of talks with Equant regarding a possible transaction. France Telecom does not foresee that a deal could be concluded in current market conditions," the former state-owned France Telecom said in a statement. 
A source close to the talks told CNNfn.com negotiations were progressing slowly, with France Telecom insisting it will offer shares for Equant, rather than cash. SITA, a group of airlines that owns a 35 percent stake in Equant, has been widely reported to have demanded cash for its share in the business.
Equant (PEQU) stock fell 3 percent to  40.27 early Wednesday, valuing the firm at 8.3 billion ($7.2 billion). France Telecom (PFTE) shares slid 1.1 percent to 102. 
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Equant
France Telecom
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