Tunisia’s ministry of information and communication technologies is allowing Emirates International Telecommunications (EIT) to sell its 35% stake in Tunisie Telecom, TelecomFinance has confirmed.
The Tunisian incumbent was partially privatised in…
Tunisia’s ministry of information and communication technologies is allowing Emirates International Telecommunications (EIT) to sell its 35% stake in Tunisie Telecom, TelecomFinance has confirmed.
The Tunisian incumbent was partially privatised in 2006 when EIT bought a 35% stake for US$2.25bn.
A spokesperson for the ministry told TelecomFinance that a sale process has been given the green light, confirming a statement cited by local reports, but declined to comment further.
Under the agreement signed between EIT – a subsidiary of investment company Dubai Holding – and the state, Tunisia reportedly has the right to choose its new partner in the telco.
Tunisie Telecom, which named Mokhtar Mnakri as its new CEO in August last year, competes against Ooredoo’s Tunisiana and Orange Tunisie.
Plans to list the company on both Tunis and Paris stock exchanges in early 2011 were shelved in the wake of the uprising in the country at the time and because of fears about potential job losses, according to local reports.
Besides the Tunisian operator, EIT has investments in several other telcos and ISPs including UAE’s Du, Greece-based Forthnet and Malta’s Go.
EIT could not be reached for comment before the press deadline.
