The Tunisian government continues to stall plans to launch an initial public offering for state-owned Tunisie Telecom, the communications minister again reiterated, after protests against the planned sale. He had said last week that the IPO would be suspended indefinitely, but the company had hope the government would change its position. Secretary of State for Communication Technologies Sami Zaoui said a final decision would be taken in consultation with Tunisia's strategic partners within days over whether to go ahead with the IPO. Tunisia's government holds a 65 percent stake in Tunisie Telecom, with the rest held jointly by Dubai's TECOM Investments and Dubai Investment Group. It had planned to list the company on both Tunis and Paris stock exchanges in what would have been the first offering by a Tunisian company on a European bourse. Tunisia has had two changes of government since former president Zine al-Abdine Ben Ali was driven out by popular revolt on Jan. 14. Many officials have been replaced, leaving plans for the IPO in limbo. BM
