It certainly fits a lot of American stereotypes about France to see the
incumbent telecom operator (and leading wireless provider) France Telecom (NYSE: FTE)
struggling with operating efficiencies and high employee costs. What
may not be stereotypical, but is nevertheless true, is that brutal free
capitalist-style competition is likewise putting a lot of pressure on
the company's revenue generation in its home territory. Although
arguably too cheap by several metrics, France Telecom has a worrisome
capital and expense structure and relatively uninspiring growth
potential.
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http://www.investopedia.com/stock-analysis/062413/france-telecom-under-pressure-both-sides-fte-tef-vod-t.aspx
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