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Middle East/Africa: UAE telco buyout spreads Etisalat throughout region

 |  November 5, 2013

A wireless telco acquisition was inked by Etisalat in a $5.7 billion deal to acquire Morocco’s largest wireless operator, a move that also spreads Etisalat’s presence throughout the middle east and Africa.

Reports say Etisalat acquired a 53 percent stake in Maroc Telecom, currently owned by Vivendi, giving the company a controlling share in the Abu Dhabi-based firm.

The move is reportedly part of France-based Vivendi’s efforts to reduce debts and refocus its operations on music and pay-TV operations.

The buyout is also part of a larger trend, reports say, of Gulf Arab wireless operators to aggressively make buyouts outside the region, which is limited and saturated.

Full content: Economic Times of India

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