=+i APPLE acquired 75% of the ordinary share capital of ORANGE on | January 1998 for €25 million when the book value of the net assets of ORANGE was €20 million.

The fair value of the net assets was the same as their book value. For the purposes of measuring non-controlling interests at the date of acquisition, the proportionate share method equated to the fair value method. The goodwill arising on the acquisition of ORANGE has not been impaired.