Méditel has USD550 million to broaden its horizons

20 Jul 2005

Moroccan cellco Médi Télécom (Méditel), which won the country’s second national fixed line licence on 11 July, was awarded its new concession on Monday along with an extension of its mobile licence until 2024. Méditel, backed by Portugal Telecom and Spain’s Telefónica, plans to invest over MAD5 billion (USD550 million) in three years to broaden its portfolio, including the launch of a new project to offer internet access via WiMax technology.

Elsewhere, the Moroccan government is planning to continue with its privatisation of Maroc Télécom by selling its remaining 34.1% stake by the end of 2006, according to news agency Reuters, which quotes a Ministry of Finance document dated 11 July.