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FinancialNews


  • 18-06-19

    6 percent stake in Morocco's Maroc Telecom acquired

    (MENAFN) A 6 percent stake in Morocco's giant Maroc Telecom was purchased at a price of USD13 ahead of the Casablanca Stock Exchange closing.

    Morocco's government sold the stakes following a declaration it made early this month of a plan to sell up to 8 percent in the telecom company.

    With six percent already sold, the rest of the 2 percent will have its selling subscription effective from June 26 to July 5th.

    A window for an early ending on July for the remaining stakes is a possibility.

    It comes as the government is looking to privatize several public firms in order to achieve around USD800 million with an aim to cut budget deficit.

    MENAFN1806201900450000ID1098650751

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