Etisalat says may acquire Maroc Telecom's minority stakes
Complex Made Simple

Etisalat says may acquire Maroc Telecom's minority stakes

Etisalat says may acquire Maroc Telecom's minority stakes

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%."

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved