MILAN--(Standard&Poor's) March 28, 2002--Standard&Poor's said today that it has placed its triple-'B'-plus long-term credit ratings on France Telecom and the company's mobile-telephony subsidiary, Orange, on CreditWatch with negative implications on concerns over the future control of Mobilcom AG. At the same time, Standard&Poor's affirmed France Telecom's 'A-2' short-term credit ratings. "The action follows news that the German stock-exchange regulatory authority will investigate a possible agreement between France Telecom, the main shareholder--Gerhard Schmid--of France Telecom's 28.5%-owned German associate Mobilcom, and a consortium of European banks regarding the conditions for a change in control of Mobilcom," said Guy Deslondes, a Standard&Poor's credit analyst. Standard&Poor's will resolve the CreditWatch status of France Telecom's
