France Telecom on Thursday castigated the government, its largest shareholder, for derailing its plan to sell a majority stake in video-sharing website Dailymotion, reigniting debate about state interference in the French economy.U.S.-based web portal Yahoo had been in talks to acquire a 75 percent stake in Dailymotion, the No. 12 video sharing website, which competes with Google's YouTube.But France's industry minister disliked the idea of one of France's most successful start-ups being "devoured" by Americans.Arnaud Montebourg pushed for a more "balanced" partnership with 50-50 ownership, leading the talks to collapse and leaving France Telecom to search for another partner to help Dailymotion grow abroad especially in the key U.S. market.
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 0.19% or $-0.02/share to $10.64. In the past year, the shares have traded as low as $9.46 and as high as $14.29. On average, 1657170 shares of FTE exchange hands on a given day and today's volume is recorded at 37901.
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