FTTH not worth a kopek

France Telecom CEO has nixed the FTTH. "No investor would put a kopek in it," says Didier Lombard.
Isn't this a huge volte face? Or at least a surprise rethink? He certainly sounded different in February, when he announced FTTH trials in the Paris region would start mid year. It also might be news to his chief network officer.
Is this all Sol Trujillo's fault? Or does Lombard think he can be smart and let Iliad burn up on the fibreway? Analysts don't think so. JP Morgan reckons Iliad will get 105 million euros annual cash flow for its 1 billion investment (after 10 years), but they also don't think Deutsche Telekom will get more than 60 million euros per annum incremental revenues on its hybrid VDSL network in Germany (cost 3 billion). So what's a kopek worth?