STC Considers North African Options

The Saudi Telecom Company (STC) has revealed plans to step up foreign expansion plans following the failure of its attempt to purchase a stake in Moroccan incumbent operator Maroc Telecom, according to Reuters. Vivendi, which is currently Maroc Telecom's majority stakeholder, refused to relinquish any of its 53% share of the Moroccan fixed-line and mobile market leader, a share that has an estimated market value of US$20mn. Details of STC's offer are not available, but chief executive Saud al-Duweish had said the company is still hopeful that Vivendi will change its mind. In the meantime, he also made clear that the company would step up its efforts to expand overseas, with a focus on North Africa, and particularly Algeria. STC is also competing for a 25% stake in Oman Telecom .

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