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Rabat- Morocco is not planning to sell its remaining 30 percent stake in Maroc Telecom, Morocco’s largest telecom operator, Minister of Economy and Finance Mohamed Boussaid announced on Tuesday, on the sidelines of the UK-Morocco Trade and Investment Forum in London, reports Reuters.
“The government has a 30 percent stake left…This is not now on the table for selling,” Boussaid said.
Maroc Telecom is Morocco’s main telecommunications company, with just over 18 million subscribers. The remaining stakes of Maroc Telecom are controlled by the United Arab Emirates (UAE) telecoms firm Etisalat, following the acquisition of the Paris-headquartered media company Vivendi’s 53 percent stake in the Moroccan telecom firm.
The Moroccan-British Trade and Investment Forum kicked off in London on Tuesday, March 27, marked by the participation of ministers and notable business people from both countries.
The Moroccan Embassy in London has teamed up with the British Developing Markets Associates (DMA) in order to introduce British investors to the opportunities that Morocco has to offer in several sectors, such as renewable energies, tourism, petroleum exploration, finance, phosphates, education, and vocational training.
This meeting explores Morocco as an economic gateway for the African market, due to its economic assets, geostrategic position, proximity to Europe, the strong presence of its private sector in Africa, and its political and economic stability.
