Maroc Telecom and Vivendi, an alliance for globalization
When in the late 1990s, the Moroccan government decided to open the capital of Maroc Telecom to the private sector, its ambition was to back a successful and profitable state-owned company by an international group to help tackle the challenges of globalization, to which the kingdom began opening up in the 1990s.
A gradual increase of Vivendi’s presence in the share capital
On February 20, 2001, after an international competitive bidding, Vivendi acquired 35 % of Maroc Telecom’s share capital. The French group, manager of the mobile network SFR in France, brought its expertise, while mobile telephony was experiencing a boom in the kingdom.
The partnership between Maroc Telecom and Vivendi is becoming intensified, and, in accordance with the commitments made in 2001, Vivendi acquired on November 18, 2004, an additional 16 % share of Maroc Telecom’s share capital and increased its ownership from 35% to 51%.
In December 2007, an exchange of shares with Morocco’s Caisse de Dépôt et de Gestion enabled Vivendi to acquire an additional 2%, and to hold 53% of Maroc Telecom’s share capital.
Operational and international support
Immediately after its entry in the Maroc Telecom’s share capital, Vivendi brought its support to the Moroccan incumbent operator in its international development ; in 2001, Mauritania’s incumbent operator is acquired. In December 2006, Burkina Faso’s incumbent
operator (ONATEL) was acquired, followed by Gabon Telecom in December 2007, and Sotelma in Mali in July 2009.
In Europe, Maroc Telecom and Vivendi launched two virtual operators (MVNO) in France (2006) and Belgium (2007), to capture Moroccans Living Abroad as customers.
Access to financial markets
Vivendi’s expertise and credibility enabled Maroc Telecom to settle permanently in international financial markets, in the best conditions. Maroc Telecom is listed in the Paris stock exchange. These listings have stimulated the adoption by Maroc Telecom of the most demanding financial standards.
Support to management
Vivendi brought to Maroc Telecom its expertise in terms of new technologies, marketing, information systems, training and management.
This cooperation and this expertise that were perfectly assimilated by Maroc Telecom have enabled African subsidiaries to also start their transformation to face liberalization and globalization.