Yahoo Inc has abandoned an effort to acquire a majority stake in online video website Dailymotion due to objections by the French government, according to media reports, scrapping what would have been the biggest deal in the 10-month tenure of Yahoo CEO Marissa Mayer. Yahoo had been in talks to purchase a 75 percent stake in Dailymotion, owned by telecommunications company France-Telecom Orange, in a deal that would have valued the video website at $300 million.But French government officials raised concerns that the country would lose control over one of its biggest Internet industry successes in such a deal, according to a person familiar with the matter.French government officials and France Telecom executives sought to arrange a deal in which Yahoo would take a 50 percent stake instead, but Yahoo balked, the Wall Street Journal reported on Tuesday.Yahoo and Dailymotion failed to comment on the matter.
France Telecom SA, (France Telecom), is a France-based European mobile operator, Internet access provider, and telecommunications services provider for multinational businesses under the Orange brand. Shares of FTE fell by 0.65% or $-0.07/share to $10.67. In the past year, the shares have traded as low as $9.46 and as high as $14.29. On average, 1708050 shares of FTE exchange hands on a given day and today's volume is recorded at 682127.
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