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FINANCIAL NEWS
UAE�s Etisalat signs share purchase agreement
05 May 2014
(MENAFN) Emirates Telecommunications Corporation (Etisalat) has signed a Share Purchase Agreement for the sale of Etisalat”s shareholdings in its operations in Benin, the Central African Republic, Gabon, the Ivory Coast, Niger and Togo to Atlantique Telecom SA, Etisalat International Benin Limited, Itissalat Al Maghrib and Maroc Telecom, according to Qatar News Agency.
The corporation will offer mobile voice and data services and operate under the Moov brand.
The agreement was also signed by Prestige Telecom, established in the Ivory Coast, which provides IT services to the operations of Etisalat in these countries.
The total consideration in return for Etisalat”s equity in and receivables from these seven companies amounts to USD650 million.
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