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Provider: Reuters Investment Profile
Provider: Wright Reports

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Emirates Telecommunication Corp Ltd Enters Into Exclusive Negotiations with Vivendi SA Concerning its 53% Stake in Itissalat Al Maghrib Ste SA

Monday, 22 Jul 2013 08:00pm EDT 

Emirates Telecommunication Corp Ltd (Etisalat) announced that, following a binding offer made by Etisalat, Vivendi SA has formally granted Etisalat a period of exclusivity for the acquisition of Vivendi's 53% stake in Itissalat Al Maghrib Ste SA (Maroc Telecom) until September 25, 2013. Etisalat's binding offer values each Maroc Telecom share at MAD 92.6, amounting to a consideration for Vivendi's 53% stake in Maroc Telecom of Euro 3.9 billion (equivalent to AED 18.8 billion).