Etisalat looks to Algeria
The UAE operator has said it will bid for the 35% stake in Algerie Telecom due to go under the hammer later this year, a deal expected to raise around US$3.5 billion.
Etisalat has said it will take participation in the part-privatisation of Algerian incumbent Algeria Telecom. The UAE operator is expected to compete with the likes of France Telecom, Deutsche Telecom, Telefonica and Portugal Telecom for the 35% stake, which is expected to generate sell for as much as US$3.5 billion. More than 40 companies have expressed interest in the sale.
According to Algeria’s communications ministry, the international tender will be finalised by the end of this month. The deal is expected to be completed before the end of the year.
Algeria Telecom currently has approximately 3.5 million fixed lines and an estimated 4 million subscribers on its Mobilis mobile network. In the cellular arena Mobilis competes with Egypt’s Orascom Telecom and Kuwaiti operator Wataniya Telecom in a market with around 35% penetration.