PARIS-The French government said it will sell a 9.6-percent stake in France Telecom to institutional investors, lowering its holding to below 50 percent for the first time. France Telecom owns Orange, a European wireless carrier.
Following the sale, the French government will hold between 41 and 43.5 percent of France Telecom. The sale, which could raise as much as $7 billion, is aimed at reducing France’s public debt.
