Telefonica confirms it will sell Meditel stake

6 Jul 2009

Telefonica will sell its 32.18% stake in Moroccan GSM operator Medi Telecom (Meditel), the chairman of the Spanish telecoms giant, Cesar Alierta, said last Thursday. Telefonica is looking to sell the stake alongside fellow shareholder Portugal Telecom (PT), which also holds 32.18% of Meditel’s equity, with the remainder owned by domestic investors. Alierta did not confirm whether a potential buyer had been found yet, but indicated that Telefonica was looking to take advantage of any potential opportunity for a sale, ‘in partnership’ with PT. Telecoms companies linked so far with a possible acquisition of Morocco’s second largest mobile operator include Egypt’s Orascom Telecom, Qatar Telecom (Qtel), Etisalat of the UAE, Saudi Telecom, Bahrain Telecom (Batelco) and France Telecom.

Morocco,Telefonica, Orange Morocco (Meditel),

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