Strong competition among the telecommunications companies to invest in Morocco
Morocco, Business, 12/5/1997

There is strong competition among national and international telecommunications companies that have opened offices in Morocco to sign contracts with commercial banks in preparation for their participation a major Moroccan privatization effort.

The Spanish group Telephonica inaugurated its branch in Casablanca last week which is the first step in its attempt to set up a regional company that will possess shares in the Public Moroccan Telecommunication Company to be put up for sale soon.

The group of Bank Al Wafa stated that it reached an agreement with the French company France Telecom to form a strong nucleus in the face of other companies and investors who will compete to obtain the biggest share in the privatization program of the cellular phone project.

The chairman of the group, Saad Al Kitany, declared that the telecommunication sector represents a major sector of the services offered by the banking group.

Together with the French France Telecom, the group intends to set up a financial and technical union that will include specialized local companies in the field of the cellular phone which is the main arena of competition with the Korean Group Daewoo.

The Korean group had also said that it is forming a union that is to include US and Malaysian companies in order to obtain shares in the Moroccan Telecommunication Company.

Previous Stories:
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  Daewoo invests in Morocco as its industrial base for Africa   (11/1/1997)

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