Vivendi Eyes $6.9B Moroccan Unit Sale In Divestment Push

Law360, New York (July 23, 2013, 11:48 AM EDT) -- France's Vivendi SA signaled progress in long-running negotiations to sell its Maroc Telecom unit Tuesday, saying it had entered exclusive talks with Abu Dhabi's Etisalat over a deal that would value its majority stake in the company at €4.5 billion ($6.9 billion).

Vivendi, in the thick of a strategic review, has tried to shed noncore assets over the past several months as part of a plan to double down on its media business. It opened negotiations with Etisalat, formally Emirates Telecommunications Corp., in April, when it...
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