Ooredoo makes progress in Maroc bid
28 February 2013 | Kavit Majithia
Ooredoo, formerly known as Qtel, has made developments in its bid to acquire a controlling stake in Moroccan operator Maroc Telecom.The Qatari telco has targeted Maroc as an ideal strategic fit to complement its networks across North Africa and the Middle East.
Dr Nasser Marafih, the company chief executive, told the Financial Times it was presently conducting due diligence on the business.
Etisalat is also interested in making the acquisition and reportedly hired banks to finance the sale, with Vivendi, Maroc’s majority owner, looking to sell of its 53% stake.
Ooredoo, which has undergone a strategic overview of its operations, is looking to remain in the Middle East and emerging markets in Africa and Asia.
It is also reportedly in talks with the Libyan government to take control of one of its telecoms groups, and has also confirmed plans to bid for a telecoms network in Myanmar. Vodafone and France Telecom are also reportedly in the running to acquire a licence in Myanmar.
Qtel’s rebrand to Ooredoo has been made in a bid to bring the company under one consumer brand, and it owns networks in Qatar, Indonesia, Tunisia, Kuwait, Maldives, Algeria, Oman, Palestine and Iraq.
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