AT mulling bond issue to fund network upgrade

22 Mar 2016

Algerian state-owned fixed line incumbent Algerie Telecom (AT) is reportedly in talks with local banks over the option of a bond issue to fund an upgrade and expansion of its network. Agence Ecofin cited AT’s CEO Azouaou Mehmel as saying that the company planned to upgrade 70% of its infrastructure by the end of 2016, though it lacked the necessary funding to respond to growing demand.

As previously reported by TeleGeography’s CommsUpdate, Algeria’s Minister of Post, IT and Communications, Iman Houda Feraoun, revealed in October 2015 that there were no current plans to open up the capital of AT to the public, as it was viewed as ‘a strategic holding of the state’. The official, however, pointed out that the listing of a 20% stake of AT’s wireless arm Mobilis on the Algiers Stock Exchange was still on the cards. Under the plan, Mobilis would be spun off in a separate company before the initial public offering (IPO) takes place. Both Vodafone and Orange have expressed interest in acquiring the stake.

Algeria, Algerie Telecom (AT), Algerie Telecom Mobile (Mobilis)