UAE telco Etisalat is reportedly in talks with banks about a loan of up to US$8bn to fund a bid for Vivendi’s 53% stake in Maroc Telecom.
Etisalat, which submitted an expression of interest in the Moroccan incumbent in January, has also asked banks to…
UAE telco Etisalat is reportedly in talks with banks about a loan of up to US$8bn to fund a bid for Vivendi’s 53% stake in Maroc Telecom.
Etisalat, which submitted an expression of interest in the Moroccan incumbent in January, has also asked banks to pitch for M&A and financial advisory roles Reuters reported, citing an unnamed banking source.
With reference to several bankers the article suggested that JP Morgan, one of Etisalat’s relationship banks, is among the parties the company is talking to about financing.
Maroc Telecom has attracted the interest of operators internationally, several of which are also said to be seeking financing to fund a bid for the French media and telecoms group’s stake.
Earlier this month, reports emerged that South Korea’s KT Corp had mandated three banks – Citigroup, Credit Suisse and Societe Generale – to advise on a potential bid. If successful, the banks would reportedly also finance the investment.
While KT Corp has confirmed it is interested in a Moroccan telco, it has not specified the target.
France Telecom Orange and Qatar’s Qtel are also said to be interested in the stake, expected to be sold for about €5.5bn (US$7.4bn).
Etisalat was not immediately available for comment.
