Maroc Telecom Buys out 51% of Malian Public Operator

APA-Bamako (Mali) Maroc Télécom has offered 250 million euros to take the lead of contesting companies for the buy out of 51% of the Malian public company (Sotelma) shares, official sources disclosed Friday in Bamako.

The offer relates to a comprehensive license comprising fixed-line, mobile and Internet services, the sources said, adding that there has been no official awarding to Maroc Telecom yet. Sotelma, a historic operator in Mali, has realised a turnover of 70 billion francs CFA in 2008, while half of its budget deficit, amounting to 12 billion FCFA in 2006, was officially absorbed in 2008.

The structure of the new company's capital plans for 51% of shares for the buyer, 19% for the national private sector, 10% for the staff, and 20% for the Malian state.

Mali, with 13 million inhabitants has two telephone operators with comprehensive licenses each and 3 million subscribers altogether.

Posted to the site on 18th January 2009