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Emirates Telecommunication Corp Ltd To Make Binding Offer For $6 Billion Itissalat Al Maghrib Ste SA Stake From Vivendi SA-Reuters

Wednesday, 24 Apr 2013 02:10am EDT 

Reuters reported that Emirates Telecommunication Corp Ltd will make a binding offer to buy Vivendi SA's 53% stake in Maroc Telecom (Itissalat Al Maghrib Ste SA). Vivendi wants to sell its stake in the Moroccan business to help reduce its debts. Etisalat did not elaborate on the terms of the bid. The telecom firm is planning to finance the transaction from external sources and has arranged funding from both local and international banks. 

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