Monaco Telecom attracts three suitors

2 Mar 2004

Vivendi Universal has short-listed three companies – Orange, Cable & Wireless and Investcom Holding, a company part-owned by the Mikati family – for its proposed sale of a 55% stake in Monaco Telecom, first announced in the summer of 2003. Each bidder is reported to have offered in the region of EUR150 million (USD187 million) for the stake which, if realised, would give Vivendi a sizeable gain on its original EUR100 million investment. The winner is expected to be announced at the end of March at the earliest.