France Telecom ups TeliaSonera bid, heated talks ongoing

Following a rather unceremonious rejection of a $41 billion offer earlier in the month, rumors are swirling that France Telecom is adding some extra cash onto its bid for TeliaSonera, a juggernaut carrier and ISP serving Nordic and Baltic countries. France Telecom's flagship brand is Orange, and if some sort of deal does go through, it could theoretically lead to Orange becoming one of the dominant carriers in the world with control over a huge swath of European spectrum. The talks, which are apparently still underway, are said to be extremely fragile -- they could end in tears of joy or sadness at any moment -- and France Telecom would like to get a deal done by Monday or Tuesday at the latest. More on this one as it develops.

Update: The bid is dead -- again. Something tells us this isn't the last time we're going to hear about this.