Etisalat and Vivendi extend validity

Emirates Telecommunications Corporation, or etisalat, recently announced that the validity period given for its binding offer — and the period of exclusivity granted to etisalat by Vivendi — for the acquisition of Vivendi’s 53 per cent stake in Itissalat Al Maghrib, or Maroc Telecom, has been extended until October 31.

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Published: Mon 30 Sep 2013, 9:17 AM

Last updated: Tue 7 Apr 2015, 8:26 PM

On July 22, etisalat made a binding offer that valued each of Maroc Telecom’s shares at MAD92.6, amounting to consideration €3.9 billion (Dh19.3 billion) for Vivendi’s 53 per cent stake in Maroc Telecom. In parallel, Vivendi formally granted etisalat a period of exclusivity for the acquisition until September 25.

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