21 May 2019

Maroc Telecom offices in Marrakech, Morocco

Maroc Telecom has acquired Swedish-listed Millicom’s subsidiary Tigo Chad, the leading provider of digital services in the African nation, for an undisclosed sum.

The acquisition is part of Morocco’s largest operator’s plan to step up operations in the region.

For Millicom, it is part of its strategy to gradually exit Africa and increase its focus on Latin America. However, the deal is not expected to have a material impact on the group as a whole.

Controlled by the United Arab Emirates’ Etisalat Group and the Moroccan government, Maroc Telecom already has a presence in more than 10 African countries, including Chad’s neighbours Niger and Central African Republic.

The completion of the deal is subject to approval by Chadian authorities. Once the sale goes through, Millicom’s only remaining market in Africa will be Tanzania.