Saudi Telecom’s Moroccan approach rejected, but still eyeing North African acquisitions

22 Sep 2008

Saudi Telecom Company (STC) is determined to expand in North Africa, despite having a speculative approach to buy a stake in Maroc Telecom rejected by the Moroccan incumbent’s French owner Vivendi, reports Gulf Daily News. STC CEO Saud Al Duweish said he hoped Vivendi would have a change of heart after the French media group declined to sell its Maroc Telecom stake, but later told Al Arabiya TV that STC had not made an official bid. ‘We tested the waters for Maroc Telecom but we didn’t get a positive feedback…We hope Vivendi will change its mind,’ he said, adding, ‘We are interested in the Middle East and North Africa in general but we are looking at North Africa in particular.’

Morocco,Maroc Telecom (IAM), Saudi Telecom Company (STC),


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