Tunisia’s government to sell off its Telecom stake in Tunisiana

Mergers, Acquisitions and Financial Results

The Tunisian government has announced that it wishes to sell its stake on Tunisiana, the biggest mobile telecom company in the country.

The government currently has 25 percent stake in the company that is also owned by Qatar Telecoms through Kuwaiti company, Wataniya.

Wataniya on the other hand holds a majority share in the company and stands around 75 percent of the share capital.

Slim Besbess, a director at Tunisia's finance ministry said the offers must come only from financial companies and investment funds by November 2.

“Investors cannot be operators of telecommunications networks or shareholders in a telecommunications network operator,” Besbess said.

"We will sell 25 percent of the share capital of Tunisiana. Only financial companies and investment funds can participate in this tender,” he added.

Just this week, the telecom company, which has over 6 million subscribers, launched its 3G network to major parts of Tunisia.

Tunisiana is the only private telecom company in the North African state.