France Telecom is buying 40 percent of Morocco's Medi Telecom for EUR 640 million, two people familiar with the situation told Bloomberg. The deal is likely to be announced on 21 September, the news agency's sources said. France Telecom confirmed in August that it was in talks with Meditel's owners, Groupe CDG and FinanceCom, that might lead to an "industrial partnership." Tom Wright, a spokesman for France Telecom in Paris, declined to comment, as did spokespeople for Meditel. The Moroccan company will hold a press conference at 15:00 hours in Rabat, according to Hassan Bouchachia, a Meditel spokesman. Through its Orange brand, France Telecom operates in neighboring Tunisia and African countries including Kenya and the Ivory Coast.
