Orange purchase approved by France Telecom shareholders

Suzanna Kerridge, Paris correspondent

Suzanna Kerridge, Paris correspondent

France Telecom shareholders have given the final go-ahead to the telco's purchase of British mobile phone operator Orange. At an extraordinary meeting held this morning, shareholders voted to accept the 9.9 per cent purchase of France Telecom by Vodafone as part of the deal. The transaction reduces the French state's stake in the telco from 63.9 per cent to 54 per cent. France Telecom had announced on 30 May its intention to buy Orange for almost E50bn (£30bn).