France Telecom/TeliaSonera: Back to the future

France Telecom appears to be back at empire building again. The French telecoms group has restrained its appetite for acquisitions since suffering severe indigestion from gorging on deals during the bubble years. But FT’s plans to merge with TeliaSonera, its Finnish-Swedish peer, appear to show it is hasn’t lost its ambitions for cross-border deals. That looks bad news for minority investors. The deal might scratch FT’s itch for keeping up with the Garcias and Schmidts. Spain’s Telefonica put E...