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SOTELMA staff finally acquire stake in company

15 Oct 2015

Employees at Malian fixed line incumbent Societe des Telecommunications du Mali (SOTELMA) are now finally stakeholders in the company, Agence Ecofin reports. It was confirmed at a meeting of the National Telecommunications Union (Syntel) last week that following the redistribution of shares SOTELMA employees now hold 10% of the telco’s stake, while Morocco Telecom remains the largest shareholder with its 51%. Local investors meanwhile are said to account for 20% of the company stock, while the remaining 19% is in the government’s hands.

As noted in TeleGeography’s GlobalComms Database, as far back as July 2008 the Malian government unveiled plans under which it would sell a 51% stake in SOTELMA to a strategic investor, with 10% and 19% stakes to be reserved for employees and investors (institutional and public), respectively. While it made good on plans to sell off the 51% stake, completing the divestment to Morocco Telecom in July 2009 in a deal valued at XOF180 billion (USD365 million), it is only now that a redistribution of shares sees SOTELMA staff finally becoming stakeholders.

Mali, Moov Africa Mali (formerly SOTELMA/Malitel)

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