Abraaj buys Tunisie Telecom from Dubai Holding

The private equity firm bought a 35 per cent stake in Tunisia’s state-controlled telco

Private equity firm Abraaj Group has bought from Dubai Holdings’ telecoms arm its 35 per cent stake in state-controlled Tunisie Telecom, a Tunisian minister said on Monday.

In 2006 Dubai Holding’s Emirates International Telecommunications (EIT) bought the stake for $2.25bn, according to its website.

“The UAE’s Abraaj became a new partner in Tunisie Telecom to succeed Dubai Holding which sold its 35 per cent stake,” the Tunisian Minister of Communications and Digital Economy, Anwar Maarouf, told parliament.

“The entry of the new partner contributes to the development of the company’s activity,” he said without disclosing the financial details of the deal.

Abraaj and EIT were not immediately available for comment.