22 April deadline for Maroc Telecom bids

8 Apr 2013

A deadline of 22 April 2013 has been set for preliminary bids for French group Vivendi’s 53% stake in Moroccan incumbent Maroc Telecom, with three main potential bidders thought to be still in the running, namely South Korea’s SK Telecom, Qatar Telecom (Ooreedo) and the UAE’s Etisalat, although Saudi Telecom Company STC) is also mentioned in some reports as remaining interested. Dubai-based Etisalat is reported to have lined up a USD8 billion dual-tranche loan facility to finance its bid for Maroc Telecom, bankers working on the deal were quoted as saying by the Economic Times. The 53% stake has a market value of around USD6 billion, but the winning bidder is expected to eventually make an offer to buy out the minority shareholders.

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