Tunisian Government Sets Up Holding Company to Manage Mobile Network Stakes

Mergers, Acquisitions and Financial Results

The new Tunisian government has set up a national holding company to handle its stakes in the country's two mobile networks, Tunisiana and Orange.

The CDC (Caisse des Dépôts et Consignation) will be headed by Tunisia's Minister of Finance, Jalloul Ayed. An independent subcommittee has also been assigned to monitor corruption, approve the general policies of the funds and evaluate the investments.

The CDC manages 25% of Tunisiana, 51% of Orange and the Zitouna bank, which were seized from the former ruling family and are now subsidiaries of the national holding.