Maroc Telecom Buys 51% Of Onatel
PARIS -(Dow Jones)- Maroc Telecom, which is 51% owned by French media and telecommunications company Vivendi, said Friday it had acquired a 51% stake in Onatel, the incumbent telecom operator in Burkina Faso, for EUR220 million.
Onatel had revenues of EUR103 million in 2005, more than 400,000 mobile customers, and 35% market share in Burkina Faso, Maroc Telecom said in a press release.
The mobile phone penetration rate in Burkina Faso, western Africa, is estimated at 8% and the fixed-line penetration only 0.8%.
-Nina Sovich, Dow Jones Newswires; + 33 1 40 17 17 55, nina.sovich@dowjones.com
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Posted to the site on 29th December 2006