Maroc Telecom acquires 51% stake in SOTELMA (Mali)

www.WirelessFederation.com/news: Maroc Telecom has reportedly completed the acquisition of 51% stake in state-owned telco Societe des Telecommunications du Mali (SOTELMA).  Maroc Telecom paid XOF180 billion (USD392.5 million) for its 51% stake.

Abdeslam Ahizoune, CEO of Maroc Telecom, said: ‘We are aware the responsibility is now ours to meet the multiple objectives of this operation. We were attracted by the business environment in Mali: an environment characterized by stability of the institutions, democracy and transparency, good governance, all things that prompted us to commit ourselves with confidence and serenity on a long-term investment. The investments we will engage in future years will improve the performance of SOTELMA to cope with competition.’