Government to offload small stake in national telco

10 Oct 2006

According to a draft of its 2007 budget plan, the Moroccan government may sell 4% of its 34% stake in former monopoly fixed line and mobile operator Maroc Télécom (a.k.a. Itissalat al Maghrib) next year, aiming to raise over USD450 million. It had previously said it intends to sell 25% of the telco, which is 51%-controlled by French media group Vivendi, but has not indicated when this is likely to happen. Moroccan Finance and Privatisation Minister Fathallah Oualalou told news agency Reuters that no decision had been made on a further sale of Télécom shares.

Morocco,Maroc Telecom (IAM),

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