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| France Telecom begins direct activities in Israel |
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| May 9, 2001 |
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France Telecom will operate through the Dekalo-Ben-Yehuda investment bank, which raises capital for early-stage start-ups and handles other investments. The bank’s managers are Amir Ben Yehuda and Benny Dekalo. The bank will act as France Telecom’s representative, locating and investing in relevant start-ups.
France Telecom plans to invest in IT, communications infrastructure, optics, and information security companies. Representatives of France Telecom have met with representatives of 20 companies to date, of which it will probably invest in five.
France Telecom is one of the world’s leading communications companies, with full or partial holdings in 60 companies, including the cellular company Orange. The company invests through its Innovacom fund, which has capital of €400 million ($354.7 million), of which €60 million ($53 million) was invested by France Telecom.
France Telecom also has a stake in Orange’s investment arm, Orange Ventures, which invests in cellular communications ventures, and an internal investment company, France Telecom R&D, which owns five laboratories in Europe and the US. The total capital budgeted for investment is $1 billion. |
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