Qtel has hired JP Morgan to advise on a potential bid for Vivendi’s stake in Maroc Telecom, according to four people with knowledge of the matter cited in Reuters.
As TelecomFinance reported last month, the Qatari telco had confirmed its interest in…
Qtel has hired JP Morgan to advise on a potential bid for Vivendi’s stake in Maroc Telecom, according to four people with knowledge of the matter cited in Reuters.
As TelecomFinance reported last month, the Qatari telco had confirmed its interest in the Moroccan incumbent after months of speculation, but said it was still in the early stages.
When contacted today by TelecomFinance, Vivendi declined to comment.
The news follows yesterday’s announcement by Qtel that it had mandated six banks for a US dollar benchmark bond offering, although the amount and purpose of the bond were not revealed.
An analyst with close knowledge of the company told TelecomFinance last month that he expected Qtel to issue more bonds if they needed to finance the Maroc Telecom deal, which he predicted would cost between US$7-8bn. “Historically their bond issues have a very good response,” he said.
Qtel may face competition from France Telecom, whose CEO earlier this week said the acquisition of Vivendi’s controlling stake in Maroc Telecom could be strategically interesting for the France-headquartered telco.
