Africa Finance Headlines International Morocco

Maroc Telecom Acquires 61% of Burkina Faso’s Onatel

North Africa PostComments Off on Maroc Telecom Acquires 61% of Burkina Faso’s Onatel

Morocco’s largest telecom operator “Maroc Telecom” completed the acquisition of a 10% stake in ONATEL on the Abidjan Regional Stock Exchange for €41 million, bringing its shareholding in the Burkina Faso subsidiary to 61%.

This transaction, at a price of CFAF 8,000 per share, allows Maroc Telecom to strengthen its stake in the leading operator in Burkina Faso, said Maroc Telecom in a statement.

The main telecommunication company in Morocco has entered into a strategic partnership with the State of Burkina Faso since the privatization of the operator in 2006.

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