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Etisalat expects to close Maroc Telecom deal this week

Etisalat’s acquisition of Vivendi’s 53% stake in Maroc Telecom should be complete by May 14, the UAE operator has stated.

Vivendi originally agreed to sell the stake six months ago, with Etisalat recently securing funding. The completion of the deal will give the go-ahead to Maroc Telecom’s acquisition of Etisalat’s West African operation.

Etisalat’s assertion implies that the deal has been approved by the government of Morocco – which owns 30% of Maroc Telecom – and the market regulators for the countries in which Maroc Telecom operates. These include Burkina Faso, Gabon, Mali and Mauritania.

Acquiring Vivendi’s stake will give Etisalat a stronger presence in Africa, bolstering its current operations in Egypt and Nigeria. Group CEO Ahmad Abdulkarim Julfar recently stated that the operator considered Africa a strategic region for expanding its “service offering and geographic footprint”.

 

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