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Orange to drop bid for Le Monde(M&A Navigator Via Acquire Media NewsEdge) French mobile operator Orange, a unit of France Telecom (EPA:FTE), said Monday it would pull out from the race for French newspaper Le Monde following the vote of the daily's supervisory board scheduled for later today. Orange, which was bidding jointly with weekly magazine Nouvel Observateur and Spanish media group Prisa (MCE:PRS), took the decision to abandon its offer following the rejection of Le Monde's staff who voted in favour of the bid of businessmen Mathieu Pigasse, Pierre Berge, and Xavier Niel on Friday. Le Monde's supervisory board meeting, which will start at 15:00 local time, will select the winning bidder. Country: ; France Sector: Media Target: Le Monde SA Buyer: Orange SA Type: Corporate acquisition Status: Terminated ((Comments on this story may be sent to [email protected])) (c) 2010 M2 COMMUNICATIONS |