Etisalat offers EUR 4.5 bln for Maroc Telecom stake

Tuesday 23 July 2013 | 09:31 CET | News
French conglomerate Vivendi and UAE-based operator Etisalat have entered into exclusive negotiations to finalise an agreement for the sale of Vivendi's 53 percent shareholding in Maroc Telecom. Etisalat's offer values the controlling stake at MAD 92.6 per share, resulting in proceeds for Vivendi of EUR 4.2 billion in cash, including the 2012 dividend of EUR 310 million. Including Maroc Telecom's net debt, the enterprise value for Vivendi's stake is EUR 4.5 billion, equal to 6.2x EBITDA. Vivendi said a final agreement still depends on consultations with works councils and an agreement between

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Categories: General
Companies: Etisalat / Maroc Telecom / Vivendi
Countries: Africa / Morocco
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