Government hints at MT sell-off plan

18 Jun 2007

The government of Mauritius is considering plans to sell off stakes in several state-owned ventures, including the country’s national PTO Mauritius Telecom (MT), using the proceeds to pay off debt or build new infrastructure. Bloomberg quotes the country’s Finance Minister, Rama Sithanen, as saying: ‘As part of its policy to develop the equity market and to widen and democratize share ownership, [the] government will encourage Mauritius Telecom and Sicom Ltd to be listed on the Stock Exchange of Mauritius.’ In his budget speech the minister hinted at the possible sale of other state-backed companies to help finance a number of infrastructure projects, including a new airport terminal and new roads.

Mauritius, Mauritius Telecom (MT)