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Etisalat, Ooredoo submit bids for Vivendi's Maroc Telecom
2013-04-24 15:23:00| Telecompaper Headlines
(Telecompaper) Etisalat and Ooredoo confirmed they have each made a binding offer to Vivendi to acquire its 53 percent stake in Maroc Telecom. The UAE-based operator said it had already conducted due diligence and secured external financing from local and international banks for the takeover. Qatar-based Ooredoo said it also had financing in place from a consortium of banks. The offer remains subject to approval by Vivendi and regulatory authorities. Vivendi confirmed it had received two offers and said it will study the bids in the coming weeks. The successful bidder will also be required to make an offer to minority shareholders in Maroc Telecom.
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Category:Telecommunications