Portugal Telecom reviews options for Meditel stake
Portugal Telecom has hired an adviser to assess options for its stake in Morocco's Meditel, TelecomFinance understands. According to one banker, the Portuguese company has hired Morgan Stanley to advise them on the 32.18% stake.
Last week, rumours reported in various media reports suggested that Portugal Telecom was in talks with Orascom to sell the stake, adding that it could be worth around E300m.
The news followed comments by Orascom chairman Naguib Sawiris that the group was considering three large acquisitions, one of which would be in Morocco.
Meditel's remaining shares are owned by Spain's Telefonica (32.18%) and a group of Moroccan investors led by Banque Marocaine du Commerce Exterieur and including Caisse de Depots et de Gestion.
