financing
The Group pursues a debt reduction policy with the net debt/EBITDA ratio maintained at a level of less than 2 in order to preserve the independence and flexibility of the Group.
In parallel with this policy the Group has a proactive refinancing strategy to reduce the cost of debt.
The France Telecom - Orange Group's net financial debt stood at 31,840 M€ on December 31, 2010, as opposed to 32,534 M€ on December 31, 2009. As compared with December 31, 2009, net nancial debt was accordingly down 694 M€ as of December 31, 2010.
In parallel with this policy the Group has a proactive refinancing strategy to reduce the cost of debt.
The France Telecom - Orange Group's net financial debt stood at 31,840 M€ on December 31, 2010, as opposed to 32,534 M€ on December 31, 2009. As compared with December 31, 2009, net nancial debt was accordingly down 694 M€ as of December 31, 2010.
© France Telecom - Orange 2012
