MTC eyes Algerie Telecom stake

Kuwait's MTC is considering a bid for a stake in the Algerian state-run telecoms firm.

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By  Reuters Published  July 7, 2007

Kuwait's Mobile Telecommunications Co. (MTC) is considering a bid for a stake in Algerian state-run telecom firm Algerie Telecom, a newspaper said on Saturday.

MTC is evaluating the value of the Algerian firm's licence and the investments that would be involved, Kuwait-based daily al-Jarida said, without giving sources.

French operator France Telecom said in April it was considering taking part in the privatisation of Algerie Telecom.

Abu Dhabi-based Emirates Telecommunications Corp. (Etisalat) said in January it was prepared to pay up to $3 billion for a stake in the Algerian company.

The North African country has two other mobile phone operators - Orascom Telecom Algerie, a unit of Egypt's Orascom, and Wataniya Telecom Algeria (Nedjma), a unit of MTC's local rival National Mobile Telecommunications Co.

MTC was this month shortlisted to bid for Qatar's second mobile phone licence. It also led a consortium that won Saudi Arabia's third mobile phone licence in March with a $6.11 billion highest offer.

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