The UAE's Etisalat has said it may buy out all minority shareholders in Maroc Telecom if its bid for Vivendi's 53% stake in the Moroccan company succeeds, Reuters has reported. The Moroccan state owns 30% of Maroc Telecom and the government must approve Vivendi's choice of buyer. Under Moroccan financial market rules, a buyer would be obliged to launch a bid for the free float shares. "The legislation in Morocco will impose to Etisalat to launch a takeover bid to buy out the minority shareholders of Maroc Telecom," Etisalat said. "Therefore, Etisalat may hold more than Vivendi's 53%."