Vivendi and Etisalat in talks over Maroc Telecom stake

23 July 2013 | Natasha Culzac

French group Vivendi has begun discussions with Etisalat over the sale of its 53% stake in Maroc Telecom.

If the deal goes ahead, it could net Vivendi €4.2billion in cash, as well as a figure of €310million for 2012 dividends.

Etisalat’s offer has valued shares in Maroc Telecom at 92.6 Moroccan Dirhams per share (roughly $10.95).

The deal, which Vivendi and Etisalat hope to finalise by the end of 2013, is subject to regulatory approval in respective operating countries.

In addition to the sale, there will also be a discussion with Moroccan institutional investors who hope to define the conditions of investment.

The development comes just one month after Vivendi’s pursuit of France Telecom-Orange.