Casablanca stock-exchange to get 15 pc of Maroc-Telecom

Economy, finance, privatization and tourism minister Fathallah Oualalou announced Wednesday 15 PC of Maroc-Telecom capital will be up for grabs at the Casablanca stock-exchange.

At question-time in parliament, the minister said this second sale will be made in 12 to 18 months period. The sale earlier of 35% of the national telecom operator to French Vivendi-Universal perks up Moroccan economic and political credibility and the kingdom standing at Arab, African and Euro-Mediterranean scales, he pointed out.

The $ 2.3 billion generated have been invested or earmarked by the Hassan II Fund for social and economic development for new economic undertakings, Oualalou said adding Maroc-Telecom was growing into a an engine re-energizing economy and draining newer technologies.