Telecom Egypt joins throng interested in Meditel

16 Jun 2009

Egyptian newspaper Al Borsa reports that Telecom Egypt is studying the possibility of bidding for a stake in Moroccan mobile operator Medi Telecom (Meditel) recently put up for sale by Portugal Telecom, as well as a stake in the company which Spain’s Telefonica is considering selling. The two stakes together represent over 64% of equity in the GSM operator, which also offers corporate fixed line services. According to the report, Tarek Tantawy, Vice President and Chief Financial Officer of Telecom Egypt, pointed out that the company is particularly interested in acquiring operators in possession of both fixed line and mobile networks in the Middle East and North Africa region. Other groups linked with possible bids for Meditel include Orascom Telecom, Etisalat, Batelco, Saudi Telecom, Qtel and France Telecom. In September 2008 Meditel and Telefonica announced they had jointly completed a 2,520km fibre backbone network providing international submarine connectivity between Spain and Morocco, dubbed ‘Africa Gate’.

Morocco,Orange Morocco (Meditel), Telecom Egypt,

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