Maroc Telecom stake cut

Rabat, July 13, 2007

The Moroccan government has sold 4 per cent of former state telecoms monopoly Maroc Telecom on the stock market, taking its stake in the company to 30 per cent, market regulator CDVM said.

 The state sold 35.2 million shares for 130 dirhams each on July 2, the CDVM cited the finance ministry as saying. The government had announced on June 27 that it planned to sell the stake.

French media and telecoms group Vivendi holds a further 51 per cent of Maroc Telecom and the rest trades on the Paris and Casablanca stock markets.Reuters

Tags: Maroc Telecom |