Vivendi To Sell Maroc Telecom To Etisalat For $5.7B

Law360, New York (November 5, 2013, 11:15 AM EST) -- French mass media and telecommunications company Vivendi SA on Tuesday tied off long-running talks over the sale of its Maroc Telecom SA unit, saying it would hand over a majority stake to Etisalat, one of the United Arab Emirates' biggest companies, in a deal worth €4.2 billion ($5.7 billion).

Under the deal's terms, Etisalat will get a 53 percent holding in Maroc Telecom, the main phone company and Internet provider in Morocco with operations that extend elsewhere in Africa. The €8.91-per-share purchase price includes a €0.66...
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