French Cable Giants to Combine

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Canal Plus SA and France Telecom SA have agreed to merge their cable-television businesses, AP reported Friday.

Canal Plus said in a prepared statement that a majority stake in the new company will subsequently be sold to another investor, with Canal Plus and FT retaining minority stakes.

Canal Plus' NC Numericable and FT’s France Telecom Cable serve a total of 1.7 million subscribers, AP said.

The deal is subject to regulatory approval.