Minister rules out privatisation for Algerie Telecom, Mobilis

26 January 2018

Mergers, Acquisitions and Financial Results

Algeria’s Minister of Post, Telecommunications, Technology and Digitalisation, Imane Houda Faraoun, has categorically denied that the government has any plans to sell shares in Algerie Telecom or its mobile subsidiary Mobilis, reports Agence Ecofin. The minister stated in a radio interview on 21 January that the state has ‘definitely excluded’ the potential option to open the capital of the two ‘beneficiary and profitable’ public enterprises, although ‘public-private partnerships’ for certain services will be developed.

She added that the turnover of Algerie Telecom and Mobilis continues to grow thanks to effective management. Whilst full annual financial results are yet to be finalised, the ICT minister disclosed that Mobilis generated mobile revenue of around DZD126 billion (USD1.094 billion) in 2017, up by roughly DZD4 billion compared to 2016, whilst the cellco’s yearly net profit also increased, from around DZD14 billion to DZD18 billion.

Source: Agence Ecofin