France Télécom’s M&A tactics in its initial bid for TeliaSonera were downright bizarre. Didier Lombard, its chairman and chief executive, must be out of practice, so here is a quick refresher exam to help him decide whether to revise his offer for the Swedish telecoms group or walk away from the whole shambolic affair.

1) You are the chief executive of Europe’s third biggest telecoms group. Your bottom line is under pressure and you need new revenues. Do you: