Tunisie Telecom be listed before year end

26 Oct 2010

The head of the Tunis stock exchange has confirmed that Tunisie Telecom (TT) is planning a dual listing by the end of this year on the Tunis exchange and a European bourse. Speaking to Reuters, Mohamed Bichiou, chief executive officer of the Tunis stock exchange, said the Tunisian state would contribute 10% of the company’s shares, while a further 10% would come from the company’s United Arab Emirates shareholders. TT is majority owned by the state while Dubai’s TECOM Investments and Dubai Investment Group (DIG) jointly hold 35%.

Last month Tunisia sold a 3G licence to Tunisie Telecom’s wireless arm Tunicell for USD80 million, putting it on a level footing with rival wireless network operator Orange Tunisia, which secured its W-CDMA concession in July 2009 and has been offering 3G services since May this year.

Tunisia, Tunisie Telecom (TT)