Nomura reiterates a Reduce rating on France Telecom (FTE -0.9%) ahead of its Q4 report. While...

|By:, SA News Editor

Nomura reiterates a Reduce rating on France Telecom (FTE -0.9%) ahead of its Q4 report. While not expecting the carrier's 2012 guidance to disappoint, the firm sees risks to its long-term forecasts, particularly following the arrival of new mobile competition from upstart French carrier Iliad. Nomura also thinks FT's giant dividend (current yield of 12.9%) could be cut post-2012.