The struggle for control of Maroc Telecom, which has been rolling on since the start of the year, looks to be at an end. Emirates-based Etisalat signed a €3.9bn deal to acquire a controlling stake on Tuesday.
Emirates-based Etisalat has signed an agreement to sell its holdings in Benin, the Central African Republic, Gabon, the Ivory Coast, Niger and Togo, to Maroc Telecom for $650m. The units all operate under the Moov brand but the agreement also covers Ivory Coast-based IT services provider Prestige Telecom.
French conglomerate Vivendi looks set to continue its offloading of telecom interests after Emirates-based Etisalat announced that it has secured funding to buy the French firm out of Maroc Telecom. Etisalat signed a share purchase agreement for the acquisition of Vivendi’s 53 per cent stake in the Moroccan operator back in November.
UAE based operator group Etisalat has confirmed that it has submitted a preliminary expression of interest to acquire French conglomerate Vivendi’s 53 per cent shareholding in Maroc Telecom, as it looks to expand its geographic footprint. Maroc Telecom, a publicly listed company on both the Casablanca and Euronext Paris Stock Exchanges, is Morocco’s market leading operator with over 17.4 million subscribers in Morocco, according to Informa’s WCIS.