Tecom beats Vivendi to Tunisian prize

Dubai-based Tecom/DIG has won the bidding for a 35% stake in Tunisie Telecom, offering EUR1.89 billion ahead of Vivendi’s EUR1.71 billion. In the previous round Vivendi had led the bidding with an offer of EUR1.51 billion, some four million more than its Arab rival. During a public session at the Communications Ministry in Tunis, Vivendi and Tecom employees handed sealed bids to a government official, who read out the offers. The Tunisian government is expected to confirm the sale to Tecom by the start of next week.