Morocco has reversed its decision to sell a 7% stake in Maroc Telecom, according to media reports.
Reuters reports that the finance ministry informed financial firms that were invited to bid for an advisory role that the tender had been cancelled.
No…
Morocco has reversed its decision to sell a 7% stake in Maroc Telecom, according to media reports.
Reuters reports that the finance ministry informed financial firms that were invited to bid for an advisory role that the tender had been cancelled.
No explanation has reportedly been given.
The ministry had launched the advisory tender for the sale of up to 7% of the state’s 30% stake on July 18. A transaction was anticipated to take place before the end of the year.
This is the second time that the authorities cancel plans to sell a stake in Maroc Telecom in less than a year. Last November the sale of an 8% stake was abandoned.
Maroc Telecom is controlled by French telecom Vivendi which holds a 53% stake. The government currently owns 30% of the operator, while the remaining 17% stake is listed.
The authorities were not immediately available for comments.
