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CORRECTED-Vivendi unit Maroc Telecom to upgrade infrastructure
January 18, 2013 / 5:26 PM / 5 years ago

CORRECTED-Vivendi unit Maroc Telecom to upgrade infrastructure

(In Jan. 16 story, corrects timeframe in first paragraph to ‘by 2015’, from ‘in the next two years’.)

PARIS, Jan 16 (Reuters) - Vivendi’s Maroc Telecom unit has agreed with the Moroccan government to invest the equivalent of 900 million euros by 2015 to upgrade its network infrastructure and install fiber optics across the country.

The Moroccan telecom operator, 53 percent-owned by Vivendi, said on Wednesday the plan aimed to meet increased demand for mobile traffic and high-speed Internet. It would also create 500 jobs.

Vivendi is looking to sell its stake in the company and hopes to sign a deal before the end of the first quarter of 2013, people familiar with the situation told Reuters in October.

The kingdom of Morocco, which owns a 30 percent stake, would need to approve any sale.

Reporting by Elena Berton and Catherine Monin; Editing by Maureen Bavdek

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