0
General

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

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



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

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Etisalat confirms Maroc Telecom acquisition for EUR 4.2 bln

Published 05 Nov 2013 09:01 CET | Morocco
Etislat has signed a definitive agreement to acquire Vivendi's 53 percent stake in Maroc Telecom for EUR 4.2 billion cash. The ...

Etisalat extends talks to buy Maroc Telecom stake

Published 30 Sep 2013 09:18 CET | Africa
UAE-based operator Etisalat said that its exclusive talks to buy Vivendi's 53 percent stake in Maroc Telecom have been extended ...

Maroc Telecom stake sale to be completed in 2 months

Published 12 Sep 2013 08:47 CET | Morocco
The Moroccan government has announced that UAE-based operator Etisalat's planned deal to acquire a majority stake in Maroc ...

Vivendi trims outlook after weak H1 results

Published 29 Aug 2013 11:07 CET | World
French media group Vivendi reported a fall in first-half results due to weakness at its telecom activities in its home market. ...

Vivendi to sell 49% of Activision Blizzard for USD 8.2 bln

Published 26 Jul 2013 08:29 CET | World
French telecom and entertainment group Vivendi announced that it will divest over 85 percent of its interest in computer game ...

Maroc Telecom H1 revenue down 4.6% to MAD 14.5 bln

Published 25 Jul 2013 10:05 CET | Africa
Maroc Telecom Group's revenues for the first half declined by 4.6 percent to MAD 14.47 billion. Steady growth in revenue from ...

Etisalat Q2 revenue up 20% to AED 9.9 billion

Published 23 Jul 2013 17:30 CET | Middle East
Etisalat Group announced that its revenue for the second quarter rose by 20 percent year-on-year to AED 9.9 billion. The result ...

Etisalat needs local partner to buy Maroc Telecom - report

Published 10 Jul 2013 08:53 CET | Morocco
Broadband and mobile operator Maroc Telecom, which owns units in Burkina Faso, Gabon, Mali and Mauritania, will come under the ...

Vivendi urges Orange to enter Maroc Telecom race - report

Published 17 Jun 2013 18:03 CET | Morocco
Vivendi is pushing for France Telecom-Orange to bid for the 53 percent stake it is selling in Maroc Telecom, people familiar with ...

Ooredoo pulls out of bid for Maroc Telecom

Published 17 Jun 2013 07:13 CET | Morocco
Qatar-based Ooredoo has withdrawn its bid for Vivendi's 53 percent stake in Maroc Telecom, leaving rival Etisalat as the ...

Etisalat shareholders set borrowing limit for Maroc stake

Published 30 May 2013 09:55 CET | United Arab Emirates
UAE-based Etisalat's shareholders have agreed to raise external funding in excess of the company's capital to pursue a majority ...

Etisalat makes top bid for Maroc Telecom - report

Published 27 May 2013 09:29 CET | Morocco
UAE-based operator Etisalat has offered a higher price for Vivendi's Maroc Telecom stake than rival Qatari bidder Ooredoo, ...

Ooredoo raises USD 12 bln to buy Maroc Telecom

Published 27 May 2013 09:25 CET | Morocco
Ooredoo has raised USD 12 billion to finance its bid for a majority stake in Maroc Telecom, Bloomberg reported citing the firm's ...

KT drops bid for Maroc Telecom

Published 15 Apr 2013 12:54 CET | Morocco
Korea's KT said it has withdrawn from the bidding to acquire Vivendi's stake in Maroc Telecom. The operator said it did not rule ...