Wednesday 24, October 2018 by Kudakwashe

Morocco considers selling stakes in Maroc Telecom in 2019

 

Maroc Telecom is 53 per cent controlled by the UAE's Etisalat.

Morocco’s economy and finance minister said that the Kingdom is considering selling stakes in Maroc Telecom next year, as it aims at raising MAD 5 billion ($527 million) from the sale of public enterprises.

Maroc Telecom is listed on both the Casablanca Stock Exchange and Euronext Paris, the Kingdom owns a 30 per cent stake.

Mohamed Benchaaboun, the Economy and Finance Minister, said that the Moroccan government will further open the capital of public enterprises to private investors and will restructure state-owned enterprises and institutions.

The selling of stakes in public enterprises is also expected at boosting liquidity on the Casablanca stock exchange.

The economy and finance minister also said that privatisation, as well as restructuring state-owned enterprises, will help the Government generate up to MAD 8 billion to narrow the budget deficit to 3.3 per cent in 2019, reported Reuters.

 

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