Business Services Industry
MOROCCO: TREASURY MINISTER: VIVENDI CRISIS WILL NOT IMPACT MAROC TELECOM.
IPR Strategic Business Information Database, July, 2002
According to Al-Hayat newspaper (July 10, 2002), the Moroccan Minister of Treasury and Economy, Fathallah Oulalua, said that the present financial crisis of the French Vivendi Universal Group is not likely to directly impact the future of the Maroc Telecom Company, of which the French group possesses 35 percent.
The Moroccan minister rejected rumors that Vevindi will retract its investments out of Morocco following the group's current financial crisis. He added that the difficulties facing Vivendi have nothing to do with the Moroccan company, of which the Moroccan government controls 65 percent.
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