King Mohammed briefed on one year of Vivendi universal activity in Morocco
Morocco, Business, 1/5/2002

Morocco's King Mohammed VI received in Agadir Friday chairman and chief executive officer of Vivendi Universal, Jean-Marie Messier, who briefed him on the 1st year of activity of his group in Moroccan telecoms, and water-electricity supply and sanitation in the northern cities of Tangiers and Tetuan.

Vivendi Universal CEO renewed confidence in Morocco, a stable country that succeeds in matching tradition with modernity and is resolved to open its economy.

Messier also presented to the sovereign the group's investment plan for 2002 and expressed pride that the company was chosen as a reference partner in crucial sectors such as telecoms and environment.

Regarding last February's purchase of 35% of Maroc telecom capital for 23.34 billion DH (US$ 2.12bilion), he said he is very satisfied with this partnership which gave rise to a solid relation on the basis of mutual recognition of skills, exchange of experience and know-how transfer. He added the operation has already yielded concrete results that are bound to be consolidates in the months to come.

"This partnership had a good start," he told the sovereign, adding it will serve as an example for all coming operations for Vivendi Universal in other fields of activities, including in the multimedia, education, music or cinema.

Messier also told reporters his group is ready to increase its participation in the capital of Maroc-Telecom, especially that this possibility was envisioned when the first contract was signed.

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