Mergers, Acquisitions and Financial Results

Moroccan fixed line and mobile operator Maroc Télécom last week announced a 12% year-on-year increase in first quarter revenues, driven by an 8% rise in fixed line and internet sales and a 15.5% jump in mobile turnover. Revenues from all telecoms operations stood at MAD5.276 billion (USD591 million) for the quarter. Earlier, the telco reported that its net income in 2005 rose to MAD5.809 billion (USD633.6 million), a 12% increase compared to 2004.

Maroc Télécom had 1.336 million fixed line subscribers at the end of March 2006, down from 1.341 million at the end of December 2005. It added 339,000 mobile customers in 1Q06 to reach a total of 8.576 million, whilst ADSL subscribers increased by 54,000 to stand at 296,000. Its mobile customer total was lower than its December 2005 figure of 8.8 million due to the recent compliance with Moroccan regulator ANRT’s definition of subscribers, which includes pre-paid users making or receiving a voice call during the last three months only and excludes resiliated post-paid customers.