Maroc Telecom on the acquisition trail?

27 Mar 2012

Maroc Telecom is to ask a shareholders’ assembly next month to vote on a plan to raise its capital by issuing up to 200 million new shares, Reuters reports. The proposed capital increase, which would be valued at around MAD27 billion (USD3.2 billion), has prompted speculation that the Moroccan telco is looking to make a fresh acquisition in Africa. Maroc Telecom, which is backed by France’s Vivendi group, already has stakes in operators in Mauritania, Burkina Faso, Gabon and Mali. Maroc Telecom saw revenues fall by 2.5% in 2011 to MAD30.84 billion and net income drop 14.8% to MAD8.12 billion.

Morocco,Maroc Telecom (IAM),

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