africa M&A Morocco telecom

Maroc Telecom secures US$1B govt deal

Morocco’s largest telco Maroc Telecom is reported to have secured a three-year US$1-billion deal with the North African country’s government to develop infrastructure.

Reuters reported that the deal, the sixth of its kind with government, covers mobile broadband and fixed lines. Maroc Telecom claims to have invested 68-billion dirhams to date.

According to the publication, Maroc Telecom is 53% controlled by the United Arab Emirates telecoms group Etisalat.

In July 2019 Maroc Telecom completed the acquisition of the entire share capital of Tigo Chad from Millicom.

It first committed to the deal in March 2019.

At the time Abdeslam Ahizoune, Chairman of the Executive Board of Maroc Telecom, described the acquisition as a further step in the international development of the Maroc Telecom Group in high potential markets.

“It further strengthens Maroc Telecom’s strategic positioning as a major player in telecoms in Africa,” he stated.

On the back of the acquisition, Maroc Telecom said it will implement all its expertise to ensure long-term digital development in Chad.

While there is potential within Chad’s telecommunications industry, it continues to be impacted by government regulation – specifically on internet network and access to social media.

Source: ITWeb

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