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Etisalat targets Moroco in a USD5.6 b agreement

05 Nov 2013

(MENAFN) Erisalat has signed a share purchase agreement to acquire a stake in Maroc Telecom from France’s Vivrndi in a USD5.6 billion deal, The National reported.

The UAE-based operator announced it had signed a share purchase agreement to acquire Vivendi’s stake in the Moroccan operator for a total consideration of USD5.2 billion.

The deal is still subject to conditions, which indicates securing competition and regulatory approval for the transaction in Morocco, and the execution of a shareholders’ agreement with the Moroccan state, which owns a 30 percent stake in the operator.

The Moroccan operator signed revenues of USD1.75 billion for the second quarter of this year. The company also has operations in Burkina Faso, Gabon, Mali and Mauritania.

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