Morocco launches last phase of telecoms sale
Morocco, Business, 3/23/2000

Morocco on Wednesday issued an international tender to sell up to 35% of state-run Maroc Telecom, it was officially announced in Rabat.

The tender is to attract international telecoms operators in the privatization of between 25 and 35% of Maroc Telecom, whose capital is valued at $5.0 billion.

bidders must have at least one million subscribers of fixed telephone lines, or 700,000 subscribers of cellular phones, capital of at least $1.0 billion or a $20 billion market capitalization.

Bidders should have no direct or indirect link with Morocco's second GSM phone license.

Morocco ceded its second GSM phone license last July to a consortium led by Spain's Telefonica (TEF.MC) for $1.1 billion. The consortium includes Portugal Telecom (PTCO.IN), Moroccos's BMCE Bank (BMCE.CS) and the Afriquia Industrial Group (AGAZ1.CS). Maroc Telecom, which owns the first mobile phone license, is expected to be privatized by the end of June.

Morocco has a telecoms density of five fixed telephone lines for each 100 inhabitants and an estimated 500,000 GSM mobile phone subscribers.

Relatedly, Maroc telecom announced on Wednesday new cuts of fixed phones tariffs. The move, enforced as of March 20, was decided in view of the company's increasing revenues.

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