25% Tunisiana stake up for grabs

The Tunisian government has announced its intention to sell off the 25% stake in Tunisiana previously held by Sakher Materi, the son-in-law of ousted president Zine al-Abidine Ben Ali, via Princess Holdings. Reuters Africa reports that the 25% share in the telco was confiscated by the new government following the overthrow of Ben Ali last year. A spokesperson from the finance ministry announced the proposed sale at a press conference yesterday. The government will only accept offers from financial companies and investment funds and has prohibited the involvement of ‘operators of telecommunications networks, or shareholders in a telecommunications network operator.’ Bidding is due to close on 2 November. The remaining 75% of Tunisiana is held by Qatar Telecom (Qtel) via its Kuwaiti subsidiary Wataniya.