Qtel buys 15% stake in Tunisiana
Qatar's Qtel has bought 15% stake in the capital and voting rights of private telephone operator Tunisiana for a total of US $ 360 million in dividends (around 540 million Tunisian dinars,) the Finance Ministry said Monday, TAP reports.
Source : https://www.marocafrik.com/english/Qtel-buys-15-st...
Acting Minister of Finance Slim Besbes has indeed confirmed this deal. He recalled that the deal specified in the deed of sale of Sakhr El Materi's 25% of Tunisiana through a loan guaranteed by Qtel stipulated that in the event of non-payment of this loan by December 31, 2012, the 25 % stake in Sakhr El Materi's name would revert to Qtel.
A tender was launched in 2012 for the sale of the 25% stake, which would enable the Tunisian Government that had confiscated 25% of Tunisiana, to repay the loan.The tender failed to realise the amount sought by Tunisia and the Tunisian authorities entered into negotiations with Qtel to implement the clause in the best interests of Tunisia.
Slim Besbes confirmed to the Tunisian online magazine African Manager that Qtel agreed to take only 15% of the 25% stake in Tunisiana. The remaining 10% should be floated later on the Tunis Stock Exchange.
National Mobile Telecommunications Company, a 92.1 percent subsidiary of Qtel, already has a direct holding of 75 percent in Tunisiana.Following completion of the transaction, Qtel and its subsidiaries' total holding in Tunisiana will increase to 90 percent, a statement said
In November, Qtel said that it could be interested in acquiring a controlling stake in Morocco’s largest telecom operator, Maroc Telecom, as it seeks to expand its geographical footprint.
A tender was launched in 2012 for the sale of the 25% stake, which would enable the Tunisian Government that had confiscated 25% of Tunisiana, to repay the loan.The tender failed to realise the amount sought by Tunisia and the Tunisian authorities entered into negotiations with Qtel to implement the clause in the best interests of Tunisia.
Slim Besbes confirmed to the Tunisian online magazine African Manager that Qtel agreed to take only 15% of the 25% stake in Tunisiana. The remaining 10% should be floated later on the Tunis Stock Exchange.
National Mobile Telecommunications Company, a 92.1 percent subsidiary of Qtel, already has a direct holding of 75 percent in Tunisiana.Following completion of the transaction, Qtel and its subsidiaries' total holding in Tunisiana will increase to 90 percent, a statement said
In November, Qtel said that it could be interested in acquiring a controlling stake in Morocco’s largest telecom operator, Maroc Telecom, as it seeks to expand its geographical footprint.
Source : https://www.marocafrik.com/english/Qtel-buys-15-st...