A consortium of Dubai Technology & Media Free Zone Authority (Tecom) and Dubai Investment Group (DIG) has outbid France's Vivendi Universal to acquire a 35 per cent stake in state-owned fixed line and mobile operator Tunisie Telecom. Tecom-DIG offered TD 3,050 million ($2,253 million), 10.9 per cent above Vivendi's final offer of TD 2,760 million ($2,031 million). Vivendi was expected to win the stake, initially estimated to be worth $1,566 million.
The Technology & Communication Ministry shortlisted the two companies for the final round of the auction after Vivendi topped the list of original bidders, offering TD 2,440 million ($1,802 million), followed by Tecom-DIG's bid of TD 2,380 million ($1,758 million).In total, six telcos put in offers for the stake, including the UAE's Emirates Telecommunications Corporation (Etisalat), France Telecom, South Africa's MTN and a consortium of Saudi Oger and Telecom Italia. Thirteen companies were prequalified in December to bid in the auction.The acquisition will be Tecom's first outside the UAE. Through its subsidiary Emirates Integrated Technology Company, Tecom holds a 25 per cent stake in the federation's new second mobile operator du.www.meed.com/telecomsit
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