European mobile phone giant Orange, today denied a report it was in talks to buy German mobile operator E-Plus, owned by Dutch KPN Telecom and US carrier BellSouth.
"There is no intention on the part of Orange to buy EPlus, a spokeswoman at France Telecom, Orange's parent, said today.
She was commenting on a report in Britain's Sunday Telegraphnewspaper that Orange was studying an $8.5 billion acquisition of E-Plus, Germany's number three mobile operator withseven million subscribers and a 14 per cent market share.
E-Plus declined to comment on what it termed "speculation".
Shares in Orange, floated at euro 10.00 in February, were down 1.52 per cent at euro 11.05 10 a.m. today.
While Orange aims to be in 50 countries by 2005, finance director Mr Graham Howe said this month the group had no current takeover plans and was focused on beefing up a German venture.
Mr Howe predicted an era of close cooperation in Germany, Europe's most competitive telecoms market, especially in pooling costs of new mobile networks, and said he was confident there was room for the six rival mobile groups operating there.