First Tunisia, now Morocco? France Telecom has agreed to a “strategic partnership” with Caisse de Depot et de Gestion (CDG) and FinanceCom to take an initial stake of 40 percent into Medi Telecom, Morocco’s second largest telecom operator.
France Telecom will “consolidate” this stake into its accounts “by way of global integration” from FY 2015.
Medi Telecom is the second biggest operator in Morocco, with licenses for fixed, mobile, and 3G telephony. It has over 10 million mobile subscribers and a market share of 37 percent, publishing sales of over 456 million euros in 2009 with an EBIDTA margin of 40 percent (!) and operational cash flow of around 131 million euros.
FT is out to double its revenues in Africa and the Middle East over the next five years and since the company is promoting HD voice across Europe, Morocco might be the next territory in Africa to see mobile HD voice service – after Tunisia announces, of course.
Tunisia is a new build territory for France Telecom and the company put 500 million euros into a “high quality 3G+” network, so it’s likely to be the first African country to get mobile HD voice service.