Credit Suisse to lead Tunisie Telecom stake sale; Turkcell, Etisalat linked to deal

26 Jun 2013

Emirates International Telecommunications (EIT) has hired Credit Suisse to sell its 35% stake in Tunisie Telecom (TT), Gulf Today reports. EIT bought the stake for USD2.25 billion in 2006, with the Tunisian government holding the remaining 65% of the company. An official EIT statement released earlier this week confirmed prior speculation regarding the sale, saying: ‘Like any investment company, EIT is always evaluating exit options that are in line with its investment strategy and in case of Tunisie Telecom this is being done in full alignment with the Tunisian state’.

In related news, Agence Ecofin reports that four international telecoms companies are already vying for EIT’s 35% stake in the Tunisian operator, including Turkcell of Turkey and UAE-based Etisalat. The two companies were named by ICT minister Mongi Marzouk, who added that as-yet-unnamed firms from Turkey and South Korea have also expressed an interest in bidding for the asset.

Tunisia, Etisalat UAE, Tunisie Telecom (TT), Tunisie Telecom (Tunicell), Turkcell