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France Telecom's Morocco affiliate in $140.7 million bond

Bond sale is part of a $560 million investment plan for the next few years

Reuters, Thursday 13 Jan 2011
Views: 996
Views: 996

Moroccan private wireless operator Medi Telecom (Meditel), 40 per cent owned by France Telecom, said on Wednesday it plans to sell a seven-year bond to raise 1.2 billion dirhams ($140.7 million).

The bond aims to mainly help Meditel boost its network coverage as part of a 4.7 billion dirhams investment plan over the 2010-2014 period and reimburse loans from shareholders, Morocco's second-biggest telecom operator said in a statement to the Casablanca stock exchange.

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