FT tops TT bidding

An unnamed source close to the auction of Tunisie Telecom is quoted by Reuters as saying that France Télécom (FT) is leading the bidding with an offer of around USD2.5 billion for a 35% stake. Five other bidders – Vivendi Universal, MTN, Etislalat, Tecom and a consortium comprising Saudi Oger and Telecom Italia – have also been vying for the company. While neither the Tunisian telecoms regulator nor FT have been available for comment, the report claims that the French company has negotiated a deal which will allow it to acquire an additional 17% stake within two years.