Morocco completes sale of 4% stake in incumbent

2 Jul 2007

Morocco’s Finance and Privatisation Ministry on Friday announced the closure of the sale of a state-held 4% stake in Maroc Télécom on the Casablanca Stock Exchange, in a special placement for domestic and foreign institutional investors, which raised around MAD4.57 billion (USD552.2 million). The transaction, which was launched on 26 June, involved the sale of 35,163,814 shares in the national incumbent telco. Following the successful completion of the sale, the government now holds 30% of the capital and voting rights of the company, which is 51% controlled by French media group Vivendi, with floated shares now accounting for 19% of total capital.

Morocco,Maroc Telecom (IAM),

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