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Wall Street Breakfast: Must-Know News

Posted on June 05, 2008

TeliaSonera snubs France Telecom's $42B bid. France Telecom (FTE) is in talks to acquire Swedish peer TeliaSonera for cash and stock worth $42B, a 39% premium. A deal would create Europe's largest telecom carrier by revenue and serve 237M customers. TeliaSonera rejected the initial offer, saying it significantly undervalues the company's potential. Inflation, expectations worry Fed. Fed chief Ben Bernanke said yesterday inflation is significantly higher than we would like but much less than the double-digit rates that inflation reached in the mid-1970s. He said molding people's perception...

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