Orange Tunisia majority shareholder might be nationalized

Orange Tunisia may gain a new majority shareholder, following rumors that the incoming government is considering nationalizing the 51% held by Investec, owned by Marwan Mabrouk, the son-in-law of former president Ben Ali, Reuters reported.

Tunisia’s cabinet supposedly approved a draft decree on February 25 to seize the assets of the former president and his family.

It is also thought possible that France Telecom could be given the opportunity to buy Investec’s stake.

Orange told Reuters that the company’s priority is to maintain the operations; at the end of 2010 it claimed 1.16 million wireless subscribers, having launched a combined 2G /3G network the previous May.

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