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Emirates Telecommunication Corp Ltd Signs Share Purchase Agreement of Vivendi SA 53% Stake in Itissalat Al Maghrib Ste SA

Monday, 4 Nov 2013 07:00pm EST 

Emirates Telecommunication Corp Ltd (Etisalat) and Vivendi SA announced that they have signed a Share Purchase Agreement for the acquisition of Vivendi SA's 53% stake in Itissalat Al Maghrib Ste SA (Maroc Telecom). It is worth mentioning that Etislat made a binding offer that valued each Maroc Telecom share at MAD 92.6, amounting of EUR 3.9 billion, equivalent to ADE 19.2 billion. Closing of the transaction would be subject to a number of conditions. These conditions include, among others, the execution of a shareholders' agreement with the Kingdom of Morocco regarding Maroc Telecom and securing competition and regulatory approvals in the Kingdom of Morocco and certain other jurisdictions in Maroc Telecom's footprint. 

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-0.33 -1.37%
11:58am EST