PARIS -- Fipar-Holding (CDG group), FinanceCom and France Telecom today signed a memorandum of understanding with a view to France Telecom acquiring a 40% share of Médi Télécom’s capital and voting rights. France Telecom will consolidate this stake into its accounts by way of global integration from the fiscal year 2015.

Médi Télécom is the second biggest global telecoms operator in Morocco, with licences for fixed, mobile and 3G telephony, and has been active in the telecoms sector since 1999. Over the years Médi Télécom has built an international reputation for its expertise and know-how, capitalising chiefly on the quality of its Moroccan human resources and its perceptive development strategy.

With over 10 million mobile subscribers and a market share of 37%, Médi Télécom published sales of over 5.3 billion dirham (465 million euros) in 2009 with an EBITDA margin of 40% and an operational cash-flow of around 1.4 billion dirham (131 million euros).

Through this partnership, France Telecom intends to leverage its marketing, commercial and technical expertise to contribute to the strategic development of Médi Télécom in value-added sectors such as mobile voice and data communications, content as well as in the B2B market.

Stéphane Richard, France Telecom’s CEO, said: “The acquisition of this stake in Médi Télécom is the first concrete step in our new policy of expansion outside Europe, and contributes to our stated aim of doubling our revenues in Africa and the Middle-East over the next five years. I am delighted to contribute to this strategic partnership, which can only strengthen Médi Télécom's profile as a dynamic and solid company”.

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