French mobile company Orange reached a deal with Israel's Partner to retake control of its brand, it said in a statement Tuesday, as it seeks to move on from a major diplomatic spat.

Orange will pay up to 90 million euros ($100 million) to regain direct control of the brand in Israel within two years, which had been licensed to Partner until 2025. 

The head of French telecoms giant Orange told Israeli Prime Minister Benjamin Netanyahu on Friday he was distressed by reactions to remarks seen as backing a boycott of the Jewish State.

"I deeply regret the impact resulting from the context and interpretation of those statements," Orange quoted Stephane Richard as telling Netanyahu at a meeting in Jerusalem.

Israel has invited the head of France's Orange group to visit and explain his plan to review ties with a local telecoms firm that has stirred a boycott row, a government official said Sunday.

The telecoms giant reacted swiftly, saying it welcomed the invitation and that its CEO, Stephane Richard, would travel to Israel "soon", as both sides seek to defuse the row.

France Telecom subsidiary Orange is to spend 1.5 billion euros ($1.98 billion) for full control of its Egyptian subsidiary MobiNil/ECMS, it said on Thursday.

The move is in line with an agreement with its local partner Orascom which was announced in February, the statement said.

The manager of a French distillery in the renowned Burgundy wine-making district was sent a sobering phone bill for 716,414,273 Euros (1.02 billion dollars).

"It's so enormous when you see it written down, you can't believe it, so several of us had a look," said Gerard Chaussee, who runs the Maison Vedrenne making various luxury spirits in Nuits-Saint-Georges in eastern France.