Vivendi's financial problems will not affect Moroccan phone operator, minister

The financial problems of the French Group "Vivendi" will not affect the future of Morocco's phone operator, Maroc Telecom, minister of finance and privatization, Fathallah Oulaalou, said Tuesday.

Speaking at the question time in the House of Advisors (parliament upper house), Oulaalou said Maroc Telecom's "good results" of 2002, and the "excellent" ones expected for 2003 and 2004 are an indication that the shares of Vivendi in Maroc Telecom is the group's best capital.

Vivendi owns 35% share in Maroc Telecom.

On news that Vivendi may sell its Maroc Telecom Share, the minister said "in any case, we will come out winners."