FTE » Topics » Adjustment on Orange plc acquisition cost (E)

This excerpt taken from the FTE 20-F filed May 17, 2005.

Adjustment on Orange plc acquisition cost (E)


Under French GAAP, the settlement of the put and call arrangement with Vodafone on February 28, 2001, has been reflected as contingent consideration and the purchase price of Orange plc has been reduced accordingly.


Under U.S. GAAP, the settlement of the put and call arrangement is considered as an equity transaction and accordingly, there is no subsequent adjustment to the purchase price of Orange plc.


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