Maroc Telecom to invest $990 million by 2005
Maroc Telecom plans to invest 11.5 billion Moroccan dirhams ($990 million) over the next five years, in a bid to consolidate its market leadership, the official MAP news agency reported Saturday, December 22.
Nearly half of that investment sum will be directed towards developing landline call and data networks, another Dh4.5 billion will be used to extend cellular network coverage, while the rest will be invested in public phones and extending services to the country's remote rural areas.
The firm, in which French giant Vivendi Universal holds a 35 percent stake, has 1.19 million fixed phone subscribers, 3.66 million mobile phone users and 30,000 Internet customers, according to company figures. Maroc Telecom controls 71 percent of the local mobile phone market, while its monopoly fixed-line services reach 95 percent of the country. The company’s turnover in 2001 rose 17 percent to Dh14 billion. — (menareport.com)
© 2001 Mena Report (www.menareport.com)