Maroc Telecom and Etisalat have signed an agreement for the acquisition of six assets in Africa
Maroc Telecom has signed with Etisalat an agreement to acquire its subsidiaries located in Benin, Central African Republic, Ivory Coast, Gabon, Niger and Togo. The agreement also includes Prestige Telecom, established in the Ivory Coast, providing IT services to the operations of Etisalat in these countries.
The transaction, for a total consideration of 650 million dollars, includes the acquisition of Etisalat's majority stake in these operators, as well as the shareholders loans.
The realization of this agreement is subject to a certain number of conditions, in particular the finalization of the acquisition by Etisalat of Vivendi's stake in Maroc Telecom and the approval from the relevant authorities in the countries where these assets are located.
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Maroc Telecom is a full-service telecommunications operator in Morocco and leader in the fixed-line, mobile, and internet sectors. With its four subsidiaries-Gabon Telecom in Gabon, Mauritel in Mauritania, Onatel in Burkina Faso, and Sotelma in Mali-Maroc Telecom Group has more than 39 million customers in the mobile, fixed-line, and internet segments. Maroc Telecom has been listed on the Casablanca and Paris stock exchanges since December 2004. The Group's largest shareholders are Vivendi (53%) and the Kingdom of Morocco (30%).
