UAE-based operator Etisalat has secured shareholder approval for the financing package for ts bid for Vivendi's 53 percent stake in Maroc Telecom, Reuters reported citing two people familiar with the matter. Etisalat held an extraordinary general shareholders' meeting on 28 May to vote on the financing package, as required by its corporate bylaws. The shareholder vote approved that Etisalat can borrow an amount that can exceed its capital but no more than EUR 6.67 billion. There was a quorum of 68 percent at the EGM, the sources said. Etisalat is vying with Qatar-based Ooredoo for control of Maroc Telecom.
