Vivendi wants to close sale of Maroc Telecom unit this year

August 29
6:13 AM 2013

French multinational mass media and telecommunications company Vivendi said that it is still aiming for the sale of Maroc Telecom by the end of 2012. The announcement was given by Vivendi Chief Financial Officer Philippe Capron in a conference call. 

Maroc Telecom is Vivendi's unit in Morocco. The French firm holds a 53% stake in Maroc, a leading mobile, landline phone and Internet provider. Aside from Morocco, Maroc also has operations in Mauritania, Burkina Faso, Gabon and Mali.

Capron also announced that the company would soon have a new Chief Executive Officer and Chairman of the Management Board. Capron, however, did not mention when the change would take place. Last week, French radio and TV station BFM reported that Vivendi had already hired a recruitment company to look for potential individuals to fill these positions. Jean-Francois Dubois is now acting as the CEO and Chairman of Vivendi but reports had said that he is ready to retire soon. He had been with the company since 1991.

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