France News

Moody’s Investors Service cut the debt ratings of six European countries including Italy, Spain and Portugal and revised its outlook on the U.K.’s and France’s top Aaa ratings to “negative,” citing Europe’s debt crisis.

France Telecom SA may spend about $2 billion to buy most of billionaire Naguib Sawiris’s stake in their Egyptian wireless venture and delist Egypt’s biggest phone operator by revenue.

Germany and the European Commission welcomed Greek approval of the austerity steps demanded for a financial lifeline, suggesting euro finance chiefs will pull Greece back from the brink when they meet in two days.