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UAE's Etisalat completes $5.7 billion Maroc Tel stake buy from Vivendi
May 14, 2014 / 8:57 AM / 3 years ago

UAE's Etisalat completes $5.7 billion Maroc Tel stake buy from Vivendi

DUBAI (Reuters) - Etisalat ETEL.AD has completed its purchase of a 53 percent stake in Maroc Telecom from Paris-listed Vivendi (VIV.PA) for 4.14 billion euros ($5.67 billion), the United Arab Emirates operator said in a statement on Wednesday.

A customer walks out of an Etisalat shop at the Dubai World Trade Centre in Dubai October 14, 2012. REUTERS/Jumana ElHeloueh

Etisalat has bought into Maroc Telecom (IAM.CS) through a separate legal entity, Etisalat International North Africa (EINA). Etisalat owns 91.3 percent of EINA, with Abu Dhabi Fund for Development holding the remainder.

The latter is an Abu Dhabi government-owned institution that provides concessionary loans and grants for projects in other countries, according to its website.

Earlier this month, Etisalat said it expected to close the deal on May 14.

($1 = 0.7296 Euros)

Reporting by Matt Smith; editing by David French

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