FRANKFURT, Germany-Gerhard Schmid, former chief executive of German company MobilCom, is likely to lower the price at which he would agree to sell his MobilCom shares, paving the way for a takeover by France Telecom’s Orange subsidiary.
International press reports said Schmid could be willing to accept about $17 per share, down from his original demand of about $22 per share. Schmid owns 42 percent of MobilCom.
However, any deal hinges on Schmid accepting an all-paper offer and Orange restructuring MobilCom’s vendor-financing agreements.
