Etisalat plans to bid for stake in Algerie Telecom


MENAFN - 19/06/2006

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(MENAFN) Emirates Telecommunications Corp (Etisalat) plans to participate in the partial privatization of Algerie Telecom to expand its presence in North Africa, Reuters reported.

Algeria's minister for postal services, IT and communications, has received a team from the UAE company.

The ministry said in a statement that the team has expressed their willingness to participate concretely on the occasion of the opening of capital of Algerie Telecom.

Observers said other firms including France Telecom and Deutsche Telekom are likely to bid for a stake of around 35 per cent in the Algerian operator, expected by analysts to raise around $3.5 billion.

Algerie Telecom has an estimated half a million fixed line clients and over 4 million mobile subscribers.

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