Telecom service provider Orange has increased its stake in Meditel, a telecom operator in Morocco, to 49 percent from 40 percent.
The increase in investment in Meditel, which offers both fixed and mobile services, follows an agreement in 2010.
Meditel has invested heavily in its networks, which now include over 5,400 km of fiber optic cable, including 870 km in Morocco’s ten largest urban areas. Meditel will complete the overhaul of its mobile network this year, extending its 3G coverage to 95 percent of the population.
Meditel was the first operator to launch its 4G service, in June 2015 – after bagging one of the three 4G licenses from Moroccan regulator ANRT in March 2015.
The telecom service provider has more than 13 million mobile subscribers, representing a 31 percent market share at the end of 2014. Meditel posted 7 percent increase in revenues to 503 million euros and 18 percent increase in EBITDA to 170 million euros, said Orange.