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Ooredoo seeking loan for Maroc Tel acquisition
- Qatar: Sunday, March 17 - 2013 at 07:30
Qatar's Ooredoo is in talks with lenders about a syndicated loan to support its bid for Vivendi's Maroc Telecom stake, as bidders face the prospect of having to finance a bid for the whole company, Reuters has reported. The Moroccan government is seeking to keep a 30% stake in Maroc Telecom, but a bid for Vivendi's 53% stake could trigger a mandatory bid for the whole company under Moroccan law, two senior bankers said. "We are assessing the probability of the need to acquire the whole company," a senior banker said. Etisalat has been talking to banks about a syndicated loan of $6-8bn since mid-February and appointed BNP Paribas as a financial adviser in late February.
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