Maroc-Telecom purchases 54 percent in mauritanian telecom company

Morocco's phone operator, Maroc-Telecom, has purchased 54 percent of the Mauritanian phone company, Mauritel.

The Moroccan operator won the bid on Saturday for an offer of $ 48,131,160.

Maroc-telecom, which obtains 572,990 shares, will reserve 3 percent of the shares to personnel at $ 84 a share.

The company undertook to increase Mauritel capital by 26.045 percent.

Mauritel, set up in 1960, started operating last year a GSM network.