Rabat – Maroc Telecom has announced that the acquisition of Tigo Tchad, Chad’s largest network operator, has been finalized.
Tigo Tchad is a subsidiary of Millicom, an international telecommunications company that operates across Central and South America and Africa.
The parties signed a contract for the acquisition on March 14, for an as yet undisclosed amount.
“The finalization of the acquisition marks another step forward in the international development of Maroc Telecom in markets with strong potential, and it reinforces its strategic position as a major actor in telecommunications in Africa,” stated Abdeslam Ahizoune, the Chairman and Chief Executive of Maroc Telecom stated in a press release.
Tigo Tchad begun operations in 2005 and is the leading telecommunications provider in Chad.
Ahizoune added that “Maroc Telecom will put all of its expertise towards ensuring Chad’s long-term digital development.”
Maroc Telecom is now present in 11 countries across Africa, including Mauritania, Mali, Niger and Ivory Coast.
Its total revenue for 2018 was MAD 36 billion ($3.7 billion). via @MoroccoWNews