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Morocco Telecom and Etisalat in buying deal

Staff writer |
Maroc Telecom announced that it has reached an agreement with the United Arab Emirates telecom firm Etisalat to buy over its units in Africa for $650 million.

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This agreement also includes Prestige Telecom provides IT services on behalf of Etisalat subsidiaries in these countries.

The transaction, the price is $ 650 million, relates to the resumption of participation in these operators Etisalat and the redemption Morocco Telecom shareholder loans.

The conclusion of this agreement is subject to a number of conditions, including the completion of the acquisition by Etisalat of Vivendi's interest in Morocco Telecom and approval of relevant authorities in the countries where Etisalat subsidiaries are located.

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