Rabat - Morocco’s second largest telecom provider, Meditel, will surrender total ownership to French telecom operator Orange before the current year is over.
Rabat – Morocco’s second largest telecom provider, Meditel, will surrender total ownership to French telecom operator Orange before the current year is over.
Bruno Mettling, Deputy Director in Charge of Orange Group’s interests in Africa and the Middle East, said, “I followed all process details to transform Meditel into Orange, which will be operated [across Morocco] at the same high level of quality of Meditel.”
He went on to say, “Morocco has succeeded in the field of mobile phone, [However], its market needs to apply this success to the landline field as well.”
In 2010 Orange already acquired 40 percent of Meditel for 640 million Euros. Following the purchase, it estimated this 40 percent share to be valued at 320 million Euros in its financial statements.
Mettling continued saying, “This step paved the way logically that a year later we can ask the question of re-branding Meditel.”
Just last year French weekly magazine, L’Express reported that Orange was prepared to pay a little more than 72 million Euros to take control of Meditel. Before the purchase is finalized, however, Moroccan telecom regulator ANRT will have to give the green light for the takeover.
Orange has large scale plans to expand its service across Africa. In 2015, its number of subscribers reached approximately 100 million in Egypt, Morocco, Tunisia, Senegal and Mali among other countries, accounting for nearly 10 per cent of group sales last year.
Edited by Constance Guindon