France Telecom said that its revenues fell 0.5% year-on-year on a like-for-like basis in the fourth quarter of 2010 to 11.73 billion euros. The Paris-based group said that, stripping out the impact of regulatory measures, its revenues would have risen 1.2%, driven by growth in Spain and its "rest of the world" division, which includes mobile operations in Africa and the Middle East.
France Telecom said it expects its revenues, excluding the impact of regulation, to increase slighlty on a like-for-like basis in 2011 compared to 2010. The group expects to spend 13% of its revenues on capex as it roll outs mobile broadband and optical fibre services in France, while extending its 2G and 3G mobile networks in Africa and the Middle East. In 2010, capex was 12.1% of revenues. source: France Telecom statement
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