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Tunisia sells stock in confiscated firms

Jul 27 2012 10:13
Tunis - Tunisia says it is selling its shares in two major companies that belonged to a member of toppled president Zine El Abidine Ben Ali's family.

The government confiscated 300 companies held by the former autocratic leader, his wife Leila Trabelsi and their relatives.

It plans to sell shares in six of them this year, starting with two owned by Ben Ali's brother-in-law Sakher Materi.

Finance Minister Slim Besbes said on Thursday that bidding will open on Friday for 25% of the capital of the mobile phone company Tunisiana, of which Qatar Telephone is the majority shareholder.

The government is also selling its 60% stake in automobile distributor Ennakle.

Tunisia is trying to bolster its economy, which was jolted by the January 2011 revolution that triggered the Arab Spring.
zine el abidine ben ali



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