United Arab Emirates (UAE)-based telecoms company Etisalat has agreed to sell its operations in several West African countries to Moroccan incumbent telco Maroc Telecom for USD650 million. According to an official press release, Maroc Telecom will buy Etisalat’s wholly-owned West African subsidiary Atlantique Telecom, which has mobile operations in Benin, Central African Republic, Gabon, Cote d’Ivoire, Niger and Togo, alongside Cote d’Ivoire-based IT service provider Prestige Telecom. ‘The total consideration in return for Etisalat’s equity in and receivables, including shareholder loans, from these seven companies amounts to USD650 million,’ the statement said. The agreement is conditional on Etisalat completing a prior-agreed deal to buy French media group Vivendi’s 53% stake in Maroc Telecom, and securing regulatory approvals in the aforementioned six countries.
As previously reported by TeleGeography’s CommsUpdate, in July 2013 Vivendi entered into exclusive negotiations with Etisalat for the sale of Morocco’s leading telco which includes subsidiaries in Mauritania, Mali, Burkina Faso and Gabon. Vivendi Universal holds 53% of Maroc Telecom via its wholly owned subsidiary Societe de Participation dans les Telecommunications. The two companies signed a definitive agreement for the sale of the controlling 53% stake in Maroc Telecom in November for EUR4.2 billion (USD5.67 billion).