The French telecom service provider
Orange has increased its stake in Morocco’s telecom operator Meditel to
49 percent, after acquiring an additional 9% on Friday.
A joint statement said that the Deposit
and Management Fund (CDG), FinanceCom and Orange signed the final
document on Friday, increasing Orange’s interest in Méditel.
The increased stock in Meditel, which
offers both landline and mobile services, follows an agreement drafted
in 2010, added the statement.
This transaction will give Orange an
additional 9% of Méditel’s capital along with the benefits set out in
the December 2010 agreements.
Following this transaction, Orange now
holds 49 percent of Méditel’s share capital, FinanceCom holds 25.5
percent while CDG owns 25.5 percent.
This comes at a time when multiple
reports suggested Orange was planning onacquiring a controlling stake in
Méditel to rename it Orange Morocco.