Tunisia has put on hold a plan to list state-owned telecoms incumbent Tunisie Telecom for the time being following protests against the transaction, Reuters reports.
Sami Zaoui, the secretary of state to the minister of industry and technology in charge…
Tunisia has put on hold a plan to list state-owned telecoms incumbent Tunisie Telecom for the time being following protests against the transaction, Reuters reports.
Sami Zaoui, the secretary of state to the minister of industry and technology in charge of communication technologies, reportedly said a final decision on the IPO would be made in consultation with minority shareholder TECOM-DIG within the next few days.
Last December Tunisie Telecom submitted documents to the stock market regulators of Tunis and Paris with a view of a dual listing.
The Tunisian state, which holds 65% of the telecoms incumbent and Dubai-based TECOM-DIG, which owns the rest, had reportedly planned to sell 10% each.
Banque d’Affaires de Tunisie and Credit Suisse were reportedly appointed to manage the IPO.
Tunisie Telecom’s mobile unit competes with 2G operator Tunisiana, owned by Qtel, and 3G operator Orange. The telecoms incumbent received a 3G licence in October 2010.
The country’s dictator has recently been ousted following a popular uprising and a transitional government is currently running the country until elections are held.
The authorities were not immediately available for comments.
