France Télécom has completed Europe's largest rights issue with the placement of its remaining €1.3bn ($1.4bn) worth of shares at a slim 3.1% discount.

The final size of the share placement for stock not taken up in the €15bn rights issue was 69.6 million shares. Shares were placed at €19.00, compared with the closing price of €19.61 on April 10. By Friday morning, France Télécom shares had risen 4.2% to €20.43.