Morocco’s government to sell 8 percent of its stake in Maroc Telecom

Morocco’s main telecommunication firm Maroc Telecom announced, Friday, that it has taken «note of a letter sent by the Minister of Economy and Finance regarding the government’s intention of selling 8 percent of its ownership stake in Maroc Telecom in the coming weeks». 

The government is planning to cede blocks of shares to undisclosed investors and make a public offer of sale on the Casablanca stock exchange, said Maroc Telecom in a communiqué sent to Yabiladi.

«Maroc Telecom and its management team are fully mobilized to carry out all the steps that will be part of this process and contribute to the success of the operation», the statement concluded.

In October, Benchaaboun told Reuters that Morocco might be selling stakes in the country’s main telecommunication firm.

The Kingdom expects to generate 5 billion dirhams from selling public enterprises, added the minister on Tuesday.