Maroc Telecom to acquire Etisalat assets in Africa

News Wireless Africa 5 MEI 2014
Maroc Telecom to acquire Etisalat assets in Africa
Maroc Telecom has agreed to buy the West Africa subsidiaries of UAE-based operator Etisalat for USD 650 million. This includes subsidiaries in Benin, Central African Republic, Ivory Coast, Gabon, Niger and Togo. The agreement also includes Prestige Telecom, established in the Ivory Coast, providing IT services to the operations of Etisalat in these countries. Etisalat holds on to its largest operation in the area, in Nigeria. Maroc Telecom said the transaction includes the acquisition of Etisalat's majority stake in these operators, as well as the shareholders loans. The transaction is part of Etisalat's planned acquisition of Vivendi's 53 percent shareholding in Maroc Telecom. The deal also requires competition and regulatory approvals in the six countries in West Africa.

Categories:

Mobile

Companies:

Maroc Telecom,  Vivendi,  Etisalat,  Prestige Telecom

Regions:

Africa

Tags:

M&A buyouts & divestments

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