Mergers, Acquisitions and Financial Results

Medi Telecom achieved in 2005 a turnover of USD 473Mn, i.e. a 21% increase compared to 2004, said the Spanish Telefonica company. The good performance of the second mobile phone operator in Morocco is due to a 47.4% increase in its customers reaching 4.023 millions, Telefonica said. Telefonica made an unprecedented overall profit increase of 13.4% earning a record USD 2.3Bn to maintain its position as one of the world telecommunication leaders. The company's turnover grew 40% bringing in USD 19.5Bn.

On the other hand, Maroc-Telecom achieved in 2005 a turnover of MAD 20.5Mn, or USD 2.2Mn, which is a 16% rise compared to 2004, said Abdessalam Ahizoune, president of the Moroccan telecommunication group.

The good performance was made mainly thanks to the revenues of mobile phones and high speed Internet, said Ahizoune at a press conference here on Monday. Maroc-telecom was subscribed to by 2.4 million new mobile users in 2005 bringing the total company subscribers to 8.8 million and the mobile sales turnover to MAD 12.7Mn, he went on to say. The company's Internet users reached 252,000 by December 2005, including 242,000 high speed users, recording a 303% rise compared to 2004. The number of new fixed-line users was 32,000 increasing the overall subscribers to 1.341 million and recording a rise of 2.4% compared to 2004 and bringing the total households subscribing to fixed phones to 19%.

Fixed phone and Internet turnover stood at MAD 11.9Mn, said Ahizoune adding the results allowed raise the company’s investment program by 29%. Maroc-Telecom is expecting a growth rate of 06 to 08% and an operation results rise of 12 to 14%, he went on to say. Morocco has over 11 million mobile phone subscribers.