Tunisia's government is continuing the “reviewing” process of Princesse Holdings's stake in the telecommunications operator Tunisiana, the head of Qatar Telecom (Qtel) said. Princesse Holdings, the investment company run by Mohamed Sakher al Materi – a son-in-law of ousted president Zine el Abidine Ben Ali – owns 25 percent of the mobile operator. Tunisia has been looking at more ways to privatize the company, but has been thus far unable to do just that. Last November, Qtel agreed to purchase Egypt's Orascom's 50 percent holding in Orascom Telecom Tunisie, also known as Tunisiana, for US$1.2 billion. The acquisition boosted Qtel's stake to 75 percent of the operator, with Princesse Holdings owning the rest. But with Ben Ali and his family fleeing Tunisia during a popular uprising last month, it is unclear what will become of the family's investments. Nasser Marafih, the group chief executive for Qtel, said the operator was in talks with the Tunisian government about the portion of Tunisiana that Qtel did not own. “The government in Tunisia is reviewing that stake right now,” Marafih said. “It is under discussions and there has been no decision what to do with it.” BM
