Vivendi considering Maroc Telecom sale?
08 October 2012 |
French media group Vivendi is reportedly reviewing options for the sale of its controlling stake in Maroc Telecom.
The move comes as Vivendi is engaged in a large scale review of its business structure including the sale of various assets.
The Financial Times reports that Vivendi has begun negotiations with Lazard and Crédit Agricole with the intent of hiring them to assess a possible sale of its 53% stake in Morocco’s largest telecoms company.
Previous estimates place the value of Maroc Telecom at €4 billion but it is believed that any sale would be difficult due to political issues in the country.
Middle Eastern carriers Etisalat and Qtel are considered likely bidders should Vivendi proceed.
Only Vivendi’s French operator, SFR, ranks higher in terms of earnings than Maroc Telecom, and the company boasts a growing international business despite increasing competition in the Moroccan market.
The media group has also reportedly hired advisors for the sale of its Brazilian telecoms unit, GVT, with Teléfonica considered a potential bidder.