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Etisalat, Ooredoo submit bids for Maroc Telecom stake
- United Arab Emirates: Thursday, April 25 - 2013 at 06:25
The UAE's Etisalat and Qatar's Ooredoo have said they have submitted binding offers to Vivendi to acquire its 53% stake in Maroc Telecom on the block, Bloomberg has reported. Vivendi, whose holding has a market value of about $6bn, said it will examine the two proposals in the coming weeks, without identifying the bidders. Etisalat said it may end up owning a greater than 53% stake because of local rules that require it to make a mandatory offer for minority shareholders.
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