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HomeNewsTunisia: CSI greenlights sale of 15% stake in “Tunisiana” to “QTEL”

Tunisia: CSI greenlights sale of 15% stake in “Tunisiana” to “QTEL”

The High Commission of Investment (CSI) has given its approval for the sale of 15% stake in telephone operator “Tunisiana” in favor of Qatar Telecom (QTEL) whose shares will increase from 75 to 90%.

The block of shares of Tunisiana (15%), which represent about 540 million dinars, sold to “QTEL,” already shareholder in the capital of the company, is a 25% portion in the capital of Tunisiana which was owned by Sakhr El Materi, son-in-law of the deposed president.

The National Commission for management of confiscated funds and property is studying a possible IPO of 10% of the capital.

CSI has also given its approval in principle to a 3.4% increase in foreign ownership of a private company operating in the field of fuel storage and transport.

This increase will enhance the participation of the foreign partner which will reach 50% stake in the company.

The CSI has recommended, in this context, to follow up on the commitments made by the foreign partner, including its development program which aims to strengthen the financial base of the company, make new investment and consolidate its competitiveness.

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