France Telecom is in the running to take a minority stake in Cambodian mobile operator Mobitel, according to a French embassy official in the Southeast Asian country, as part of its bid to expand in emerging markets.
Mobitel is one of the two brands owned by CamGSM, which is the largest mobile operator in Cambodia and is owned by the Royal Group .
France Telecom has at least one competing bidder in its effort to acquire a stake in Mobitel... they are in the final process, but now it's up to Mobitel to choose a partner, said a high-ranking official at the embassy, relating statements made by Dominique Mas, first counsellor at the French Embassy.
The competitor could be Telekomunikasi Indonesia, which is in talks to acquire a majority stake in CamGSM in a deal that could be worth more than $500 million.
France Telecom declined to comment on Friday.
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