What Will This Downgrade Mean for France Telecom’s Top Institutional Shareholders?

France Telecom ADS (NYSE:FTE): S&P has cut the company’s credit rating from A- to BBB+, as FT packs on debt ($50.7 billion or so at the end of 2012) to accommodate a more competitive environment and weakening demand, reflecting trends seen in other European carriers and providers.

These institutional firms indicated owning shares of France Telecom in Q1 2013. They reported owning a total of 5.015 million shares on 03/31/2013. The shares closed at $10.16 on 03/31/2013.

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Here are the ten largest positions in France Telecom at the end of March 31st, 2013.

Mondrian Investment Partners Ltd held 2,560,000 shares on 03/31/2013 worth $26,009,600. This brought the portfolio total to 0.38%.

Lincluden Management Ltd held 857,871 shares on 03/31/2013 worth $8,715,969. This brought the portfolio total to 1.03%.

Bank of New York Mellon Corp held 327,542 shares on 03/31/2013 worth $3,327,827.

World Asset Management Inc. held 310,072 shares on 03/31/2013 worth $3,150,331. This brought the portfolio total to 0.06%.

Fiera Capital Corp. held 240,500 shares on 03/31/2013 worth $2,443,480. This brought the portfolio total to 0.02%.

Ngam Advisors L.P. held 233,075 shares on 03/31/2013 worth $2,368,042. This brought the portfolio total to 0.05%.

Parametric Portfolio Associates LLC held 186,482 shares on 03/31/2013 worth $1,894,657. This brought the portfolio total to 0.01%.

Stonebridge Capital Management Inc. held 66,375 shares on 03/31/2013 worth $674,370. This brought the portfolio total to 0.32%.

Commonwealth Equity Services Inc. held 60,443 shares on 03/31/2013 worth $614,101. This brought the portfolio total to 0.01%.

Calvert Investment Management Inc. held 46,614 shares on 03/31/2013 worth $474,000. This brought the portfolio total to 0.07%.

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