Etisalat and Vivendi extend negotiations for Maroc Telecom sale

Etisalat announced yesterday (September 29) that the validity period for its binding offer for Vivendi’s 53% stake in Maroc Telecom has been extended.

The UAE-based company made its binding offer earlier this year, and the exclusivity deadline of the company has now been extended from September 25 to October 31 2013.

Etisalat’s offer stands at €3.9 billion for the 53% stake. The company said in a statement that a total acquisition would be subject to a number of conditions.

These include the execution of a shareholder’s agreement with the Kingdom of Morocco, as well as securing regulatory approvals in the country.

In April this year, Etisalat was in battle with Ooredoo for the Maroc Telecom stake.