South Korea’s KT said to be interested to Maroc Telecom stake

South Korea’s KT is the latest high-profile name to express an interest in buying a majority stake in Morocco’s Maroc Telecom, the country’s largest mobile operator.

Following press speculation last week, KT issued a statement to South Korea’s stock exchange, without name-checking Maroc Telecom specifically. “We are considering taking a stake in a Moroccan telecom operator, but nothing has been decided yet,” KT said.

Vivendi, which also owns French number-two operator SFR, is looking to sell its 53 per cent stake in the Moroccan market leader as part of a strategic review – and is reportedly looking to raise as much as €5 billion (US$6.62 billion) from a sale.

According to earlier reports, other operator groups thought to be interested in acquiring the stake include Qtel, Etisalat, Saudi Telecom and MTN.

It is understood that Vivendi wants to sign a deal before the end of Q1 2013, although any sale would need the approval of the Kingdom of Morocco which owns a separate 30 per cent stake in the cellco.

Vivendi first acquired a stake in Maroc Telecom in 2001 and the North African company is now its second-biggest division. As well as Morocco, Maroc Telecom also operates in Burkina Faso, Gabon, Mali and Mauritania.