Banco Santanderis frontrunner for the contract to advise the government on the sale of a stake in Algerie Telecom, having emerged as low bidder when prices were opened in mid-March. Five banks were competing for the contract, but BNP Paribas- to the surprise of the other bidders - was eliminated on technical grounds.
Santander submitted a bid of 0.15 per cent of the transaction value, closely followed by Rothschild at 0.25 per cent. Prices were also opened from Lazardand Societe Generale. A formal award is expected imminently. The selected bank will advise on the divestment, which is expected to see a 51 per cent stake sold to a strategic investor - probably a European operator. The sale process is expected to be launched in the third quarter. Algerie Telecom operates both fixed-line and GSM services in the country (MEED 11:4:04). Santander with Banque d'Affaires de Tunisieis also advising on the sale of a stake in state-owned Tunisie Telecom. www.meed.com/telecomsit You might also like...
Chinese firm wins $265m Saudi hospital contract
24 June 2026
Kuwait extends deadline for $718m drainage tender
24 June 2026
Contractor wins Emaar Dubai Harbour project deal
24 June 2026
WEBINAR: Mena Power Projects Market 2026
24 June 2026
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
Take advantage of our introductory offers below for new subscribers and purchase your access today! If you are an existing client, please reach out to your account manager.
