Maroc Telecom has signed the definitive contract with the Mali government, under which it acquires 51 percent in Mali's incumbent Sotelma. The deal was already announced in March of this year and costs Maroc Telecom EUR 275 million.
Sotelma generated revenues of EUR 112 million in 2007 and had more than 500,000 active mobile subscribers and over 83,000 fixed-line subscribers at the end of 2008. The operator sees promising growth prospects for the Malian market with an estimated mobile penetration rate of 26 percent and a fixed-line penetration rate of 0.6 percent at end-2008.
Maroc Telecom also owns majority stakes in the Mauritanian incumbent operator, Mauritel (since April 2001), in Onatel of Burkina Faso (since December 2006) and in Gabon Telecom (since February 2007).