Etisalat bids to acquire Maroc Telecom

Etisalat Hdqters

Etisalat Group is bidding to acquire Maroc Telecom, DigitalSENSE Business News can authoritatively report.

 According to Etisalat Group officials, it has submitted a Binding Offer to acquire Vivendi’s total stake in Maroc Telecom, which represents approximately 53 per cent of the capital and voting rights.

DigitalSENSE Business News recalls that in January 2013, Etisalat submitted an Expression of Interest (EoI) followed by a due diligence of the target’s assets that was completed before making a decision to submit a Binding Offer.

Also, telecom market regulations in Morocco requires Etisalat to make a mandatory tender offer to the minority shareholders, and consequently Etisalat may end up acquiring more than the 53 per cent stake offered by Vivendi.

Maroc Telecom is a publicly listed company on both Casablanca and Euronext – Paris stock exchanges.

It is the leading telecom operator in the country having controlling stakes in four (4) other telecom operators in West Africa.

DigitalSENSE Business News reports that Etisalat firmly believes that Maroc Telecom  fits within its international expansion strategy and would complement its existing West African portfolio.

Remmy Nweke/DigitalSENSE Business News
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