UAE telco Etisalat has submitted an expression of interest to acquire Vivendi’s 53% stake in Maroc Telecom.
As TelecomFinance previously reported, a number of operators, including France Telecom and fellow Gulf telco Qtel, have expressed an interest…
UAE telco Etisalat has submitted an expression of interest to acquire Vivendi’s 53% stake in Maroc Telecom.
As TelecomFinance previously reported, a number of operators, including France Telecom and fellow Gulf telco Qtel, have expressed an interest in Vivendi’s controlling stake in the Moroccan incumbent.
Etisalat CEO Ahmad Julfar was quoted last month as saying his company was still deciding whether to bid.
“Etisalat’s interest in Maroc Telecom is consistent with our stated strategy of selective expansion in our core MENA markets and would complement our existing operations in Sub-Saharan Africa,” said the telco in today’s statement.
“Etisalat is among others who expressed interest in Vivendi’s stake. Further proceeding with the transaction is subject to a number of conditions including completion of satisfactory due diligence, fulfilment of certain requirements and conditions precedent necessary to close the transaction.”
Daniel Ritz, chief strategy officer of Etisalat Group, will attend the TelecomFinance 2013 conference taking place in London on 30-31 January. He will participate in a panel debate about “partnerships as an alternative to M&A”, alongside Aldo Mareuse, co-CEO of Accelero Capital, and Kadir Boysan, chief strategy officer of Turk Telekom’s Avea.
