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Emirates Telecommunication Corp Ltd Eyeing Vivendi SA's Itissalat Al Maghrib Ste SA Stake-Reuters

Thursday, 17 Jan 2013 06:24am EST 

Reuters reported that Emirates Telecommunication Corp Ltd is interested in buying Vivendi SA's 53% stake in Itissalat Al Maghrib Ste SA (Maroc Telecom). The former monopoly has submitted a preliminary expression of interest for the stake, valued at around $5.8 billion at the current market price. French conglomerate Vivendi SA is exploring selling several assets as part of an ongoing strategic review intended to pay down debt, boost a flagging share price and reduce the group's exposure to capital-intensive telecom businesses. Qatar Telecom, the state-owned operator, has hired J.P. Morgan Chase to advise it on a potential bid for the stake, sources told Reuters in December. 

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21 Nov 2014