UAE telco Etisalat has denied reports that it is looking to acquire Gabon Telecom.
Maroc Telecom owns a 51% stake of the Gabonese incumbent and the Gabonese government owns the other 49%. A potential takeover by Etisalat – which operates locally under…
UAE telco Etisalat has denied reports that it is looking to acquire Gabon Telecom.
Maroc Telecom owns a 51% stake of the Gabonese incumbent and the Gabonese government owns the other 49%. A potential takeover by Etisalat – which operates locally under the Moov Gabon brand – was one of the items to be discussed between the owners when King Mohammed VI of Morocco came on a state visit to the country, according to media reports.
However, an Etisalat spokesperson confirmed to TelecomFinance today that the story was not true, and that Etisalat had not made moves to enter such a deal.
An acquisition has been rumoured in the past, but this week’s reports had surprised some due to the fact that the UAE market leader is in the advanced stages of the bidding process for Gabon Telecom’s parent company.
As TelecomFinance previously reported, Etisalat announced in January that it was bidding for Vivendi’s 53% controlling stake in Maroc Telecom and binding bids are thought to be due on 22 April.
Rival bidders include South Korea’s KT Corp and Qatari telco Ooredoo, formerly Qtel.
BNP Paribas and Morocco’s Attijariwafa Bank are said to be advising Etisalat on the potential acquisition.
Maroc Telecom did not respond in time for the deadline.
