Monday, 23 October 2017

Etisalat submits Maroc Telecom bid

Etisalat
Thursday 25 April 13

Etisalat announced today that it has submitted a Binding Offer to acquire Vivendi’s total stake in Maroc Telecom representing approximately 53% of the capital and voting rights…

Etisalat announced today that it has submitted a Binding Offer to acquire Vivendi’s total stake in Maroc Telecom representing approximately 53% of the capital and voting rights. In January 2013, Etisalat submitted an Expression of Interest followed by a due diligence of the target’s assets that was completed before making a decision to submit a Binding Offer.

Market regulations in Morocco will require Etisalat to make a mandatory tender offer to the minority shareholders, and consequently Etisalat may end up acquiring more than the 53% 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 4 other telecom operators in West Africa. Etisalat firmly believes that Maroc Telecom fits within its international expansion strategy and would complement its existing West African portfolio.
A further announcement will be made when and if appropriate


View more of the latest press releases from across the industry or post your company's news.

Please enable JavaScript to view the comments powered by Disqus.

Newsletter signup

Quickly get on board and up to date with the telecoms industry