Mergers, Acquisitions and Financial Results

Maroc Telecom, reported a turnover of MAD 22.6Bn (over USD 2.67Bn) in 2006, i.e. a 10.1% increase, revealed, here Friday, Moroccan telephony operator chairman, Abdeslam Ahizoune.

 Ahizoune told press that Morocco's major telecom operator totalled a net result of MAD 6.739 Bn (over USD 79.61Mn), i.e. an increase of 16% compared with 2005.

This increase resulted from the high turnover reached in both the fixed lines and the internet MAD12,61, which rose by 5.6%, explained Ahizoune, adding that the mobile line revenues stood at MAD 14.68Bn (over USD 1.65Bn), that is a 15 % surge.

While mobile line rose by 30%, reaching 11.3 million people, internet users rose 400000 clients (of which 348,000 DSL clients), said Ahizoune, adding that the telecom group invested around USD 5.2Bn last year, which is 16% of its turnover.

 According to a Maroc Telecom report issued in July 2006, Morocco had  300,000 DSL broadband subscribers, which translate into a broadband penetration rate of 28%, making  Morocco among the countries that have introduced the cheapest and fastest internet connection in the African continent.

Maroc Telecom, has recently gained 51% of Gabon's phone operator ‘Gabon Telecom' Capital, following a USD 80Mn purchase bid. It also owns -since 2001- 54% of Mauritanian operator "Mauritel."