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GCC Telecom Sector Quarterly – 3Q13

Vivendi agrees to sell stake to Etisalat

After months of negotiations, Vivendi has agreed to sell its 53.0% stake in Maroc Telecom to Etisalat for 4.2bn Euros, subject to regulatory approvals. The deal is expected to close in 1Q14. The acquisition of Maroc Telecom makes sense for Etisalat due to its market, geographic and management profile. Etisalat’s own African operations are likely to be guided through Maroc telecom which has been relatively successful in managing its sub-Saharan African operations.

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ADIB 13.08 (0.61%)
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