Abu-Dhabi-based telecoms operator, Etisalat, last week called on banks to financially back its €4.2 billion ($5.79 bn) acquisition of a 53 percent shareholding in Maroc Telecom, Morocco’s main telecommunications firm.
In April this year, Etisalat had agreed to an $8 billion loan to fund its purchase of 53 percent of Maroc Telecom from Vivendi, the French telecoms firm, according to Reuters.
Reuters also quoted one banker as saying: “Banks have had the loan commitment on their balance sheets for eight months but will not earn any money until the acquisition is completed and Etisalat signs and draws down the loan, which is expected in January.”
Earlier this year, Morocco’s state investment vehicle, Caisse de Depot et de Gestion (CDG), said it could partner with the Dubai-based Etisalat in an effort to acquire the 53 percent shareholding in Maroc Telecom (Maroc).
CDG CEO, Anas Alami, also said legislation permitted them to usurp up to 10 percent of Maroc.
source: www.ventures-africa.com
No comments:
Post a Comment