>>> Orange Conf Call Comment on M&A

- Consolidation in France : 
* Orange will not play a leading role in any kind of consolidation in france for competition reasons
* Bouygues / Iliad very unlikely to happen
* in any other deal Orange will have to participate to buy some assets of merge entity (Numericable/Bouygues telo)
* Don't think operation will happen in the short term

- Consolidation in Europe :
* Mobile mkt consolidation in Spain, Italy & Poland
* New operations should happened in the next coming month Fix to mobile deals should continue to happen
* First purpose is combination of cable & Mobile
* Belgium mentionned as clearly in that process of cable / mobile combination, but still monitoring potential M&A
* East Europre also mentionned...