FT rides again

France Télécom gatecrashed the Amena auction one week after the bid deadline for the Spanish mobile firm had passed. Now it is the centre of the ball. One of Amena’s two other potential bidders has already retired in disgust. Yet that departure doesn’t seem to have worried Amena’s owners much. The E10bn or so that FT is reportedly willing to offer in cash and shares is higher than anything its rivals had tabled before. Putative synergies from a trade buyer always held out the possibility of a h...