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Maroc Telecom takes over Mali's Sotelma

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APA Rabat (Morocco) The Moroccan telecommunications group said on Saturday it had acquired 51% of the Malian national telecommunication company (Sotelma) after making a 252 million bid.

"The Malian government has declared Maroc Telecom the temporary winner of the 51% of the capital of its operator Sotelma", a statement from the Moroccan company said.

With 53% of the capital held by French Vivendi and the rest divided between the Moroccan government and private investors, Maroc Telecom offered 252 million against 110 million by Sudanese company Sudatel and only 80 million by Portugal Telecom.

The Malian government will hold 20% of the Sotelma capital, the statement adds.

Maroc Telecom is already the major shareholder (51%) in three other African telecommunication companies-Mauritel of Mauritania, Onatel of Burkina Faso and Gabon Telecom.

The company made a gross turnover of 9.5 billion dirhams (USD1.2 billion) or 18.5% higher to its African subsidiaries.

The Moroccan operator which made an enhanced turnover of 29.5 billion dirhams in 2008 or USD3.5 billion (7.2% higher) explains this improvement, among other things, by a positive conduct of its African subsidiaries.

The mobile activity of the group, which sweeps about 75% of the Moroccan market, has recorded an increase of 9.7% to reach 21.16 billion dirhams, of which 875 million for Mauritel (+4.9%), 881 millions for Onatel (+22.5%) 692 million for Gabon Telecom (+18.7) and 18.5 billion dirhams for the group(s mobile activities in Morocco (+8.4%).

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Tags: portugal telecom  vivendi  maroc telecom  sudatel  onatel  sotelma  sotelma  Mali  Morocco