France Télécom and US private equity firm The Carlyle Group are in exclusive negotiations to acquire One, Austria's third-largest mobile phone operator, for more than €1.5bn ($1.9bn).

France Télécom and Carlyle have never worked in partnership before, but have been on opposing sides of previous telecommunications deals.

France Télécom and Carlyle unite for One bid

Oliver Smiddy

The Carlyle Group

France Télécom

E.ON

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