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HomeNewsTunisia: Qtel pockets 15% stake in capital of Tunisiana

Tunisia: Qtel pockets 15% stake in capital of Tunisiana

We have learnt from official sources that Qatari operator Qtel has finally pocketed 15% stake in Tunisiana.

Acting Minister of Finance Slim Besbes has indeed confirmed this deal. He recalled that the “Put” specified in the deed of sale of 25% of Tunisiana for Sakhr El Materi through a loan guaranteed by Qtel stipulated that in the event of non-payment of this loan by December 31, 2012, the 25 % stake of Sakhr El Materi would return to Qtel.

A tender was launched in 2012 for the sale of the 25% stake, which would enable the Tunisian Government that had confiscated 25% of Tunisiana, to pay the loan.

Since the tender had not brought the amount sought by Tunisia, the Tunisian authorities have entered into negotiations with Qtel to implement the clause “Put” in the best interests of Tunisia.

Besbes confirmed to us that Qtel has finally agreed to take only 15% of the 25% stake in Tunisiana. The remaining 10% should be floated later on the Tunis Stock Exchange.


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