Goldman Sachs, ABN Amro Rothschild, BNP Paribas, Deutsche Bank and SG Corporate & Investment Banking were today estimated to be left holding up to 50% of a €3.5bn ($4.3bn) block trade in France Télécom shares.

A source close to the deal said: "There is a residual position which we are comfortable with and which is being managed in co-ordinated way among the banks."