Maroc Telecom said on Monday it plans to raise its capital by as much as 22.7 percent, prompting traders on the Casablanca bourse to speculate that Morocco's main telecom player may make a fresh acquisition in Africa.
The affiliate of French operator Vivendi will ask a shareholders' assembly to vote on April 24 for the management's proposal to raise its capital by up to 200 million shares, the company said in a statement to the Casablanca bourse.
It did not say what it needed the capital increase for. Traders in Casablanca said that, if approved, Maroc Telecom's capital hike would be the Casablanca bourse's biggest ever.
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