Orange Group raises its stake in Meditel to 49%

27 Jul 2015

Moroccan state-controlled financial institution Caisse de Depots et de Gestion (CDG) and domestic investment firm FinanceCom have transferred a combined 9% stake in telecoms operator Medi Telecom (Meditel) to French telecoms giant Orange Group, in line with a shareholder agreement signed in December 2010. The transaction has already received the necessary authorisations from the public authorities and the regulator, the Agence Nationale de Reglementation de Telecom (ANRT).

According to the original agreement, both CDG and FinanceCom had to transfer a 4.5% stake each to Orange from 1 January 2015, thus bringing the French telco’s holding in the Moroccan network provider to 49%. However, the procedure was delayed due to, among other things, the strained diplomatic relations between France and Morocco.

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