More Africa NewsMorocco: Government to sell up to 8% of Maroc Telecom

June 4, 2019by myles

Maroc Telecom (IAM), Morocco’s largest telecoms operator by subscribers, has revealed that the government is planning to sell a portion of its stake in the company via a public offering. Maroc Telecom, which is listed on the Casablanca Stock Exchange and Euronext Paris, is 53%-owned by UAE-based Etisalat Group, with the Moroccan state in possession of a 30% stake. A public offering for up to 8% of the Moroccan operator will be announced in the next few weeks on the Casablanca Stock Exchange. The sale is the first step in a government privatisation plan to pump USD527 million-USD633 million into the state budget by selling state assets, with a view to cutting the 2019 budget deficit to 3.3% of GDP.

Source: TeleGeography

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