Maroc Telecom is preparing its entry to the Moroccan stock exchange at Casablanca for the end of November according to Moroccan financial sources. The group is controlled by the Moroccan government and Vivendi Universal has a 355 stake.
The Moroccan government is now going to float 15% of his shares while continuing negotiations with Vivendi Universal which aspires to become the majority holder in the company.
Morocco has been implementing a slow process of privatization that the Moroccan is keen to speed up to both raise funds to relieve public debt and to increase its image as an attractive foreign investment destination. (menareport.com)