Hang up

France Telecom is mulling whether to sweeten its “friendly” offer for TeliaSonera after the Swedish-Finnish telecoms company rebuffed it. A higher offer would increase France Telecom’s cash bill significantly, leaving it paying a staggering premium for a company whose prospects are mixed at best. It would be wiser to hang up. The Swedish government, which has a 37% stake, is concerned about the millions of individuals who bought Telia shares at SEK88 a share when it was partly privatised in 2000...