UAE's Etisalat waiting to hear on Maroc Telecom bid

CEO says he has yet to hear back from Vivendi on bid for its 53% stake in telco
By Reuters
Wed 22 May 2013 01:45 PM

Etisalat has yet to hear back from Vivendi on its bid for the French firm's 53 percent stake in Maroc Telecom, the chief executive of the UAE's No.1 telecom operator said on Wednesday.

Etisalat and regional rival Ooredoo (Ooredoo) both made binding bids for the stake in late April.

But Etisalat has yet to hear back from Vivendi, the UAE firm's CEO Ahmad Julfar told reporters on the sidelines of a conference in Dubai.

Etisalat has not bid for the Morocco government's 30 percent stake in Maroc Telecom, Julfar said.

Under Morocco financial rules a buyer could be obliged to launch a bid for the free float shares.

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