Government to sell Maroc Télécom stake today

28 Jun 2007

Morocco’s government has offered a 4% stake in incumbent Maroc Télécom to domestic and international institutional investors. 35.16 million shares went on offer on Tuesday and the order book will close tomorrow, with shares to be transferred on 5 July. As of Tuesday, the former monopoly’s shares traded at EUR11.31 (USD15.2) each. Following the transaction, the state will own 30% of Maroc Télécom, which is 51% owned by France’s Vivendi Universal, with 15% currently in public float.

Morocco,Maroc Telecom (IAM),

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