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France Telecom Unveils 5-Year Plan for Networks, Staff Morale

July 5 (Bloomberg) -- France Telecom SA unveiled a four-part, five-year plan aimed at reviving morale and putting Chief Executive Officer Stephane Richard’s stamp on the company.

The plan combines a mix of new and previously announced goals including a doubling of revenue from emerging markets and a two-billion euro investment in the domestic fibre network. Richard presented the strategy to reporters in Paris today.

France Telecom is looking for new direction after a series of suicides rocked the company and hastened the replacement of former CEO Didier Lombard. In April, Richard said the company would spend as much as 7 billion euros ($8.8 billion) on deals in Africa and the Middle East to boost emerging-markets growth.

“The group has set its sights on rekindling a spirit of conquest in its international development,” the company said in a statement. No “transformational” acquisitions are planned.

France Telecom shares rose 0.4 percent to 14.26 euros at 11:53 a.m. in Paris

To contact the reporter on this story: Matthew Campbell in Paris via mcampbell39@bloomberg.net.

To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net. FTE FP <Equity> CN VIV FP <Equity> CN BHARTI IN <Equity> CN ZAIN KK <Equity> CN

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