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France Telecom Reports $7.3 B Loss

Photonics.com
Mar 2002
PARIS, March 22 -- France Telecom has reported a loss of $7.33 billion in 2001. The loss of 8.28 billion euros marked the second-biggest loss ever posted by a French company, behind the loss of 13.6 billion euros for 2001 announced earlier this month by media giant Vivendi Universal.

The telecommunications company, which is more than half-owned by the French government, said the figure included a writedown of 10.2 billion euros ($9.02 billion) for the depreciation of assets. France Telecom cited as a reason for the loss its decision to lower the estimated value of the assets it bought during a phase of rapid industry consolidation in 1999 and 2000.


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