FT ready for Medi consolidation in 2015

3 Dec 2010

France Telecom (FT) yesterday announced that, having obtained all necessary approvals, it has signed a final agreement to complete the purchase of a 40% equity and voting stake in Moroccan wireless operator Medi Telecom (Meditel) from its domestic owners Caisse de Depot et de Gestion group (via Fipar-Holding) and FinanceCom group (via Medium Finance). The stake will be consolidated into FT’s accounts as from 2 December by the equity method, whilst the French group has also agreed to increase its share in Morocco’s second-largest GSM operator to 49% on 1 January 2015, at which time it will fully consolidate Meditel into its accounts. FT announced the EUR640 million (USD845 million) deal on 21 September 2010, valuing the company at that date at EUR2.14 billion.

Morocco,Orange Group, Orange Morocco (Meditel),

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