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Vivendi to announce Maroc Telecom sale to Etisalat-sources
July 22, 2013 / 5:53 PM / in 4 years

Vivendi to announce Maroc Telecom sale to Etisalat-sources

LONDON/PARIS, July 22 (Reuters) - French conglomerate Vivendi is set to announce the sale of its 53 percent stake in Maroc Telecom to Dubai-based Etisalat in one of the biggest emerging market acquisitions this year, three sources with direct knowledge of the situation said.

Vivendi is expected to sell its stake for around 4.2 billion euros ($5.54 billion), close to its current market value. The board met on Monday to discuss the deal and go over quarterly results.

Vivendi declined to comment while Etisalat didn’t return a call for comment. ($1 = 0.7580 euros) (Reporting by Sophie Sassard in London and Christian Plumb in Paris; Editing by Leila Abboud)

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