Govt to float Tunisie Telecom shares

Mergers, Acquisitions and Financial Results

The Tunisian government is planning to list a portion of its 65% stake in incumbent telco Tunisie Telecom (TT) on the local bourse, Agence Ecofin reports. Minister of Information Technologies and Communication Noomane Fehri announced the plan but did not specify how much of the government’s stake would be sold off.

The funds will be used to help drive international expansion, with the operator set to acquire GO Malta, as well as its domestic development plans. Mr Fehri explained that the state’s resources alone would be insufficient to support the telco’s plans, so the decision was taken to expand the company’s ownership.
Source: Agence Ecofin