Ooredoo raises $12bn to acquire Maroc Telecom
Complex Made Simple

Ooredoo raises $12bn to acquire Maroc Telecom

Ooredoo raises $12bn to acquire Maroc Telecom

Qatar's Ooredoo has said it has raised $12bn to finance its bid for a majority stake in Maroc Telecom, as it seeks to expand through acquisitions, Bloomberg has reported. The company is competing with the UAE's Etisalat to buy Vivendi's Maroc Telecom stake and both made binding offers in April. Ooredoo submitted a "strong, compelling offer" and raised the necessary financing, said chief executive, Nasser Marafih. "We still believe we have a strong chance to win this bid."

    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