Maroc Telecom takes over Mali's Sotelma
Published on: 28th Feb 2009
Note -- this news article is more than a year old.
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%).