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Etisalat may buy out Maroc Tel minorities if bid succeeds
April 26, 2013 / 3:20 PM / in 4 years

Etisalat may buy out Maroc Tel minorities if bid succeeds

RABAT, April 26 (Reuters) - Etisalat may buy out all minority shareholders in Maroc Telecom if its bid for Vivendi’s 53 percent stake in the Moroccan company succeeds, Etisalat said on Friday in a statement.

Morocco’s government owns 30 percent of Maroc Telecom and must approve Vivendi’s choice of buyer. The rest of the company is free float that can be traded via the Casablanca and Paris stock exchanges.

Abu Dhabi’s Etisalat and Qatar’s state-owned Ooredoo are vying for the Moroccan telecoms company. Vivendi received binding offers from the companies on Wednesday in the first tangible sign of progress in the French media and telecom conglomerate’s efforts to remake itself. (Reporting By Aziz El Yaakoubi; Editing by Tom Pfeiffer)

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