Morocco will honor commitment for phone operator privatization, minister

Morocco will live up to its commitment to sell 16% of Maroc Telecom' capital to French-American Group Vivendi Universal, minister of finance and privatization, Fathallah Oulaalou, told MAP.

The minister denied news reported by Reuters that the cession of 16% of Morocco's phone operators would be delayed to 2004 after the success of the Moroccan state-owned tobacco company privatization.

There is no link between the two privatization operations, Oulaalou insisted.

French-Spanish group Altadis won last week the bid for the purchase 80% of Morocco's tobacco company for $160.8 million.

Vivendi Universal had in February 2001 acquired 35% of Maroc Telecom's capital for $253 million.