ARTCI approves Moov sale to Maroc Telecom

9 Jan 2015

In a document published on 29 December 2014 Ivorian telecoms regulator L’Autorite de Regulation des Telecommunications/TIC de Cote d’Ivoire (ARTCI) has confirmed that it has approved the sale of Moov Cote d’Ivoire, the country’s third largest mobile operator by subscribers, to Maroc Telecom, as part of a larger transaction announced last year (see below). According to the ARTCI document, going forward Maroc Telecom will hold a direct 84.99% stake in Atlantique Telecom Cote d’Ivoire (Moov); the identity of the minority shareholder has not been disclosed.

In November 2013 French media group Vivendi signed a definitive agreement to sell its controlling 53% stake Maroc Telecom to UAE-based Etisalat, which owned Moov Cote d’Ivoire via its Atlantique Telecom unit. In May 2014 Etisalat completed the Maroc Telecom takeover, before agreeing to sell its Atlantique Telecom subsidiaries (including Moov) to Maroc Telecom as part of an operational overhaul.

Côte d'Ivoire, Etisalat UAE, Maroc Telecom (IAM), Moov Africa Cote d'Ivoire