France Telecom Rocked by Regulation

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France Telecom said that its revenues in the the first quarter of 2010 fell almost 3% year-on-year to 10.96 billion euros on a like-for-like basis. Stripping out the impact of regulation, France Telecom said that revenue would have fallen 0.3%

France Telecom also said that the underlying trend in its revenue in 2010 should be flat, but "expected regulatory measures" should impact revenue by almost 1 billion euros. It expects capex in 2010 to be around 12% of revenues, as it ramps up its fibre-to-the-home programme in France. source: France Telecom presentation