A unit of Libya’s sovereign wealth fund, which wants to expand in Africa, is in talks to buy a 35-percent stake in state-owned Tunisie Telecom from a conglomerate owned by Dubai’s ruler, three sources aware of the matter said.
Dubai Holding’s subsidiary, Emirates International Telecommunications (EIT), has put its 35-percent stake in Tunisie Telecom, which it bought for $2.25 billion in 2006, up for sale to cut its debt.
J.P. Morgan Chase valued the stake at $650 million in a July research note.
LAP GreenN officials were not available for comment. EIT would not confirm or deny whether it was selling the stake.