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Vivendi urges Orange to enter Maroc Telecom race - report

2013-06-17 18:03:00| Telecompaper Headlines

(Telecompaper) Vivendi is pushing for France Telecom-Orange to bid for the 53 percent stake it is selling in Maroc Telecom, people familiar with situation told the Wall Street Journal. Orange has been weighing whether to join the contest for several months but has yet to make a decision. Quatar's Ooredoo (Qtel) pulled out of the bidding last week, leaving only the UAE's Etisalat, which has a presence elsewhere in Africa, according to the report. Telecompaper previously reported that Korea Telecom submitted a bid. Orange may face regulatory hurdles given that it already owns 40 percent of Maroc Telecom rival Meditel. Vivendi is selling its controlling stake in Maroc Telecom to raise cash as part of a renewed focus on its media affiliates.

Tags: report enter orange race

Ooredoo pulls out of bid for Maroc Telecom

2013-06-17 07:13:00| Telecompaper Headlines

(Telecompaper) Qatar-based Ooredoo has withdrawn its bid for Vivendi's 53 percent stake in Maroc Telecom, leaving rival Etisalat as the remaining bidder, Reuters reports. Jeremy Sell, Ooredoo's chief strategy officer, said valuation and frustration with the process are the reasons why Ooredoo dropped its bid. Sources told Reuters in May that Etisalat's bid was higher than Ooredoo's, though it contained more conditions and needed more work than the Qatari bid. The stake is worth EUR 4.2 billion at current market valuations. Sources told Reuters that a final announcement could be made in the coming weeks as Etisalat has agreed to remove some legal conditions that were hampering its bid.

Tags: bid telecom maroc pulls