Etisalat to finalise Maroc Telecom acquisition soon

25 February 2014 | Sophie Donoghue


Etisalat’s acquisition of the stake in Maroc Telecom held by French group Vivendi will be finalised in the next few weeks, Reuters reports.

The United Arab Emirates operator made its binding offer in July last year, which stands at €3.9 billion for the 53% stake.

"We are in line with the announced timeframe," said Herve Philippe, CFO at Vivendi. “It is due to be completed in the coming weeks."

At the same time Vivendi announced in its fourth-quarter revenue report that its net profit rose more than tenfold last year. However, sales continue to suffer for the group's French phone business, SFR.