Etisalat confirms preliminary approach for Maroc Telecom

UAE-based Emirates Telecommunications Corporation (Etisalat) has confirmed its intention to bid for a majority stake in Moroccan incumbent Maroc Telecom, owned by French group Vivendi, which is worth around USD6 billion, Bloomberg reports. Etisalat submitted a preliminary expression of interest for Paris-based Vivendi’s 53% stake, according to a statement to the local stock market. Others lining up for the Maroc Telecom stake include KT Corp of South Korea, which submitted a preliminary expression of interest in December, as well as Qatar Telecom (Qtel), and potentially France Telecom (despite already part-owning Maroc Telecom’s rival Meditel).