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.
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Etisalat submits a Binding Offer to acquire a controlling stake in Maroc Telecom
- United Arab Emirates: Thursday, April 25 - 2013 at 13:30
- PRESS RELEASE
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Etisalat announced 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.
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Posted by Nadeen El AjouThursday, April 25 - 2013 at 13:30 UAE local time (GMT+4)
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