The Moroccan government yesterday launched the country’s largest ever privatisation process with the start of the sale of 14.9% of national PTO Maroc Telecom. Morocco is selling 113.9 million shares in the telco for between EUR4.90 and EUR6.12 per share, hopefully raising between EUR558 million and EUR697 million for state coffers in the process. Depending on the success of the placement, the government could then sell a second tranche of 17.08 million shares to boost the state’s one-off gain to EUR801.5 million. Proceeds from the Paris and Casablanca listings will be used to offset the country’s 2005 budget deficit. The two-part sale will reduce the state’s holding in Maroc Telecom from 65% to around one third.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Have feedback, corrections, or story ideas? Send them to firstname.lastname@example.org.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors