Maroc Telecom Takes over Mali's Sotelma

Telecoms

Vivendi-owned Maroc Telecom 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 on to 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 increased its gross turnover of its African subsidiaries to 9.5 billion dirhams (US$1.2 billion), 18.5% higher than the previous year.

Maroc Telecom’s mobile turnover increased by 9.7& to 21.16 billion dirhams, of which 875 million was from for Mauritel (+4.9%), 881 millions from Onatel (+22.5%) 692 million from Gabon Telecom (+18.7) and 18.5 billion dirhams from the group(s mobile activities in Morocco (+8.4%), where it has 75% market share.

APA