Taking over: Etisalat completes 53% purchase of Maroc Telecom
Etisalat has completed its purchase of a 53 per cent stake in Maroc Telecom from Paris-listed Vivendi for €4.14 billion euros (Dh20.9 billion, Dh5.67 billion), the UAE operator said in a statement on Wednesday.
Etisalat has bought into Maroc Telecom through a separate legal entity, Etisalat International North Africa (EINA). Etisalat owns 91.3 per cent of EINA, with Abu Dhabi Fund for Development holding the remainder.
The latter is an Abu Dhabi government-owned institution that provides concessionary loans and grants for projects in other countries, according to its website. Earlier this month, Etisalat said it expected to close the deal on May 14.
- Samsung Electronics Levant holds the prescreening for Marvel’s Avengers: Age of Ultron
- Samsung S6, S6 Edge receive warm welcome in Saudi Arabia
- Mission to Mars: UAE plans Arab region's first unmanned probe
- Eclipsing Facebook and Twitter: WhatsApp most popular social media site for Arabs
- Why the new Samsung Galaxy S6 will 'redefine mobility'
- Etisalat, Turkcell, others eye Dubai's Tunisie Telecom stake
- Etisalat takes over majority stake of Marc Telecom from French conglomerate
- Etisalat expects to close the acquisition of Vivendi’s 53% shareholding in Maroc Telecom on 14 May 2014
- Etisalat wins the prestigious “Deal of the Year” award at the TMT Finance Awards
- Etisalat extends winning streak through innovation