France Télécom and E.ON have reached an agreement for the German power group to dispose of its €849m ($735m) stake in Orange, the mobile operator, at the end of its lock-up period.

E.ON received 103 million Orange shares when France Télécom purchased the German company's stake in Orange Communications Switzerland in November 2000. There was a lock-up agreement preventing E.ON selling down the shares until February 26, 2002.