EIT puts 35% of Tunisie Telecom on the block

News General Tunisia 21 JUN 2013
EIT puts 35% of Tunisie Telecom on the block
Dubai Holdings subsidiary Emirates International Telecommunications has put its 35 percent stake in Tunisie Telecom on the block, Tunisia's ICT ministry announced. EIT, which bought its stake for USD 2.25 billion in 2006, has been authorised to proceed with its search for a buyer. According to local press reports, EIT has hired Credit Suisse to manage the process. 

Fellow Emirati Etisalat, reportedly the sole remaining bidder for Vivendi's Meditel sale in Morocco, is seen as a strong candidate in Tunisia. Another is Turkcell, whose interest was expressed by Turkish prime minister Racep Tayyip Erdogan during his visit to Tunis earlier in June, Agence Ecofin writes. 

The ministry's statement does not disclose why EIT wants to pull out, but is said to be due to "permanent disputes" between unions and management, and increased competition on the local telecom market. Tunisie Telecom owns a subsidiary in Mauritania, Mattel. 

Categories:

General

Companies:

Turkcell,  Meditel,  Tunisie Telecom,  Vivendi,  Etisalat,  Mattel,  Credit Suisse,  Emirates International Telecommunications

Countries:

Mauritania,  Tunisia

Tags:

Voice services, Data services, Network Access, Wireline, Wireless, Internet Access, Wholesale, Consumer, Enterprise, M&A buyouts & divestments

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