For more than ten years, Tunisie Telecom has shown its desire to sell its Mauritanian subsidiary Mattel. Several companies have shown interest in taking over the telecom company. After several twists and turns, the process is getting closer and closer to completion.
Telecel Group, a telecoms company based in Mauritius, has acquired the Mauritano-Tunisienne des Télécommunications (Mattel). The financial magazine Ilboursa reports that Tunisie Telecom, BSA Télécommunication and Comatel indicated on Monday (April 4th) that they had signed an exclusive agreement with Telecel for the sale of 100% of the shares of Mattel. The technical and financial offer of Telecel Group, the amount of which has not been disclosed, was judged to be better than those of the Malagasy group Axian, the Senegalese subsidiary of Orange and the Moroccan Inwi.
“ After a competitive process, we are pleased to announce that Telecel Group has been selected for the disposal of Mattel’s shares. We are satisfied with the interactions with the Telecel group, which has a solid industrial project, and remain confident for the rest of the process ,” said Mattel shareholders in a press release. The company plans to invest more than 700 million USD over the next three years, mainly in acquisitions of mobile operators, the construction of fiber optic infrastructures and other infrastructures.
It was in 2011 that Tunisie Telecom began considering the sale of its shares in its struggling Mauritanian subsidiary to better focus on its domestic market where it was losing ground. Except that in 2014, the company abandoned this initiative and decided to reinvest in its subsidiary in order to guarantee its leveling up against the competition. As the situation began to improve, Tunisie Telecom and its co-shareholders re-initiated the process for the sale of Mattel, which President Kaïs Saïed recently gave his approval to. At the end of 2021, the Malagasy Axian came in pole position in the race to take over the Mauritanian operator. The company had submitted an offer of around 100 million euros.
The takeover of Mattel opens the doors to a new telecoms market for Telecel, allowing it to strengthen its presence on the African continent. This transaction also guarantees him new sources of income. The Mauritanian company, which has been in the red for a long time, has managed to significantly improve its financial indicators and its market share is currently 33%.