France Telecom raises Jordan Telecom stake

PARIS, June 30 (UPI) -- France Telecom acquired a majority interest in Jordan Telecom.

The deal was approved by the Jordanian government and will be finalized by the beginning of July.

France Telecom's wholly owned subsidiary, JITCO, already had a 40-percent stake in Jordan Telecom since January 2000. The latest agreement allowed the French carrier to acquire another 10 percent, in addition to an option to purchase a further 1 percent in Jordan Telecom's capital.

Jordan Telecom provides fixed, mobile and Internet services in the country.