France Telecom buys 40% of Meditel

A consortium including Fipar-Holding (CDG group), FinanceCom and France Telecom have signed a memorandum of understanding with a view to France Telecom acquiring a 40 per cent share of Moroccan operator Medi Telecom for €640m. The closing of the agreement requires approval of the Moroccan regulatory body (ANRT), expected to take place by the end of 2010.