Orange SA has abandoned its pursuit of a potential merger or acquisition in France, the telecoms company said Wednesday. "Orange has examined the possibilities of participating in an operation that would lead to consolidation in the French telecoms market, and believes that it cannot pursue this avenue at the present time as the conditions that the group has set have not been met," it said in a statement. In recent weeks, Orange was reported to be in talks to acquire a stake in Bouygues Telecom , amid a push by the French government for consolidation in the country's telecoms sector. Orange shares were down 3.4% after the news, while Bouygues shares fell 4.7%.

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