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    Govt not planning to sell remaining stake in Maroc Telecom

    29 Mar 2018

    The Moroccan government is not planning to sell its remaining 30% stake in Maroc Telecom (IAM), Reuters has reported, citing Finance Minister Mohammed Boussaid. The official said: ‘The government has a 30% stake left … This is not now on the table for selling,’ adding that the state has not yet made any decisions on other potential privatisations. TeleGeography notes that in May 2014 UAE-based Etisalat completed the acquisition of French media group Vivendi’s 53.0% controlling stake in Maroc Telecom’s holding company Societe de Participation dans les Telecommunication (SPT), via its indirect subsidiary Etisalat International North Africa (EINA), for a final consideration of EUR4.138 billion (USD5.7 billion). Etisalat holds 91.3% of EINA’s capital, while the Abu Dhabi Fund for Development owns the remaining 8.7% stake. The Kingdom of Morocco is the second largest shareholder in the Moroccan operator with a 30.0% stake, while 17.0% of the company is publicly floated.

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