The Moroccan government is considering selling a portion of its 30% share in Maroc Telecom. The sale of an 8% stake had been discussed before, but the government decided to keep its shares, but the sale is back on the agenda, which is worth around 10.1 billion dirhams (about USD $1.3-billion)
A representative of the Moroccan finance and economy ministry has declined to comment on the apparent telecommunication operator’s sale.
The French telecom company Vivendi currently controls Maroc Telecom with a 53% share. Maroc Telecom also owns 51% of shares in Mauritel, Mautirania’s main carrier.
The sale is likely related to increased budget pressures in the face of the February protests. In February 2011 Finance and Economy Minister Salaheddine Mezouar said that asset sales would be needed to preserve the target deficit of about 3.5% for the 2011 budget.
The Moroccan budget is struggling to accommodate rising food and commodity prices, which made up 35 billion dirhams in 2010 (about USD $4.4-billion).
About 95% of Maroc Telecom’s mobile services use prepaid mobile services. The company also provides 1.2 million fixed landlines to consumers.
Jahd Khalil
