Maroc Telecom (MT), a subsidiary of Vivendi, said it won the tender to acquire a 51% stake in Gabon Telecom (GT), the incumbent telecommunications operator of Gabon, for US$ 79 million.
In 2006, GT and its mobile subsidiary Libertis earned revenues of US$ 178 million. According to its estimates, Libertis has about 250,000 mobile customers, a 30% market share, and GT has around 30,000 fixed-line subscribers
The GT acquisition furthers MT’s expansion across Africa. MT has been the majority shareholder of Mauritel, the formerly government-owned Mauritanian telecom operator, since April 2001. MT is also the majority shareholder in Burkina Faso’s Onatel since December 2006.
"Without waiting, we are going to implement a restructuring and development plan that will help this operator to become a jewel of the Gabonese economy and a model for the region," Abdeslam Ahizoune, Chairman of Maroc Telecom, said.
Source: Dow Jones - WDR/Intelecon Regulatory News
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