Dubai Holding's EIT sells stake in Tunisie Telecom

Emirates International Telecommunications bought the 35% stake in 2006 for 2.25bn
(Photo for illustrative purposes only)
By Reuters
Sat 22 Jun 2013 10:39 AM

Dubai Holding's Emirates International Telecommunications (EIT) is selling its 35 percent stake - bought in 2006 for $2.25bn - in state-owned Tunisie Telecom, the Tunisian government has said.

EIT has complained to the government since the uprising that toppled former president Zine al-Abidine Ben Ali in 2011 about strike action and workers' demands for higher pay.

In February 2011, a month after Ben Ali's ousting, Tunisie Telecom said it had cancelled plans to list on the Tunis and Paris stock exchanges after consultations with trade unions.

Workers had threatened industrial action if there were job losses.

Tunisia has a population of 10.5 million people and mobile penetration of 95 percent.

Tunisie Telecom has more than four million mobile phone subscribers and one million for fixed-line services.

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